On the monthly chart,we see that the EUR/AUD shows down trend from 2009 to mid-2012. Then in August 2012 looks bullish trend started bouncing off the lowest price at 1.1600 and leads to the 38.2% fibo level. when nearing fibo level, the price decline formed a bearish candle with a long shadow indicates buying pressure is still strong. So in my prediction , this pair still in bullish bias.

On the daily chart, this pair trade above MA200 which indicates that the trend is still up with is limited by support at 1.4130 and resistance at 1.4490. This pair will remain above 1.4130 and if the support is broken then the MA 200 will become as a strong support that will hold up this bearish movement to a lower level.



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