EUR/AUD Is Very Bullish

After a brief and choppy retracement that formed after EUR/AUD bounced off from the resistance at 1.5830 the pair also bounced off from the support at 1.5715. It could not even reach the (MA)89 indicator on the daily time-frame at 1.5665 but rather formed a doji candlesticks and an inverted hammer candlestick on the same time-frame at the aforementioned support and started moving sharply to the upside. The pair has already broken out above the last high at 1.5825 and it continues rising, so the move to the upside is very likely to continue. If it does, next target will likely be at 1.6000, and if it breaks out above that level it could rise towards the next high, which is at 1.6140.