On daily chart EUR/AUD indicates a broader uptrend pattern after breakout from bearish channel. Since beginning of June strong declines have occurred, which reached important support around 1.4660. Here finally demand reacted and during yesterday session bulls took the initiative creating a large bullish candle. So there is a chance to complete correction and return to growth.

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H4 chart shows breaking of the correction line. Actually key target for buyers should be resistance placed slightly above 1.49. It is therefore possible that pair after a slight correction will again start to rise, just to vicinity of this resistance. In this case can be drawn first in last 2 weeks bullish W1 candle.

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