EUR/AUD trade idea

Harmonic Pattern Formed- Bullish Cypher pattern

Potential Reversal Zone (PRZ) - 1.5720.

• The pair has made a high of 1.6250 and retreated till 1.5780 level. It is currently trading at 1.5798.
  
  
• The major support is around 1.5720 and any break below will drag the pair further down till 1.5660/1.5600.
  
  
• On the higher side minor resistance is around 1.5870 and any indicative break above will targets 1.5915/1.5955.

It is good to buy at dips around 1.5730-35 with SL around 1.5660 for the TP of 1.5800/1.5870 

Resistance

R1- 1.5800

R2-1.5870

R3- 1.5915

Support

S1-1.5720

S2-1.5660

S3-1.5600