EURAUD was moving in downtrend since 24th May. During this time the price respected the downtrend line. That line was tested many times but for the last time it was at the beginning of August. After a week of falls, the price tested key support last week at 1.4450 and subsequently EURAUD rebounded.
Breakthrough occurred yesterday. The price crashed through downtrend line and the daily candle was closed above that line. Today bulls are continuing this movement and the price reached very dynamically near next resistance at 1.4900 level. In my opinion this movement is a new uptrend wave and it is just a matter of time when EURAUD will break the resistance at 1.4900 .
