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Technical analysis for EUR/AUD, the pair bounced from ascending trend line on the weekly chart and formed ascending triangle on the daily chart, a signal for further upside potential. If the price break above the ascending triangle and 1.5692, it will send the EUR/AUD higher toward first the 1.272 FIB extension at 1.5965 and second toward 1.618 FIB extension at 1.6110.
On the other hand, if the EUR/AUD pair break below the previous week’s low at 1.5420, it will send the price lower or extends the consolidation on the weekly chart.
Weekly chart:
Daily chart:
