This rising channel
line is in play since mid-March. Next week I expect small correction of EUR rally first, i.e. to 1.125 ( EURUSD
), so you can short EURAUD
if the price doesn't break out the channel immediately. It can fall to 1.53 or 1.52 depending on AUD behaviour. Be careful - this is a fast-mover, and AUD has room to 0.717 to fall.