Today’s morning begins with strong increases on the EUR/AUD pair. The daily chart shows that this is the third strong session in a row that is approaching the level of the 25 January high. Thus, everything points to the growing strength of the demand side, which, after breaking the correctional wedge and rebounding from the upward trend line, should lead to the development of the current movement. It seems that we have an open space at least to the last maximum from December 1.
The weekly chart is also interesting. We have a strong upward trend here and quite a large correction, which has stopped at the level of key support. It seems, therefore, that we are likely to continue the growth.
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