EUR/AUD’s up pattern continued final week and hit as excessive as 1.7062. Additional rally is anticipated this week, as a part of the entire up pattern from 1.4281. Subsequent goal is 1.7377 projection stage. On the draw back, break 1.6737 assist is required to point quick time period topping. In any other case, outlook will keep bullish in case of retreat.
Within the larger image, the rise from 1.4281 (2022 low) is in progress. Subsequent goal is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will keep bullish so long as 1.5846 assist holds, even in case of one other pull again.
In the long term image, it’s nonetheless early to determine if rise from 1.4281 is resuming entire up pattern from 1.1602 (2012 low). However in both case, additional rally is in favor so long as 1.5846 assist holds. Subsequent goal is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.
