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Technical analysis for EUR/AUD, the pair closed the month with a low-test candle on the monthly chart and formed ascending triangle on the daily chart, a sign of a potential pullback. If the EUR/AUD breaks above the triangle on the daily chart and the daily 50 EMA, that will open the door for a bullish run. The first target for this potential bullish run for the EUR/AUD is the 0.500 FIB retracement on the weekly chart at 1.5270. The second target is high on the weekly chart at 1.5328. The third target is the 0.618 FIB retracement on the weekly chart at 1.5500.
On the other hand, if the EUR/AUD break below the ascending triangle on the daily chart, that will resume the bearish trend and send the price lower. The first target for such a bearish development is the support at 1.4600. The second target is the previous low on the weekly chart at 1.4320.
Daily chart:
Weekly chart:
Monthly char:
