Some development have taken place on the EUR/AUD currency exchange rate. Due to that reason an update to the situation is being done.
First of all the previously drawn channel down pattern was broken, as a new one revealed itself. However, that move has actually extended the gains of the short sellers of the Euro against the Australian Dollar.
Secondly, the pair has bounced off the lower trend line of the new channel and seems to have begun a surge, which is aimed to reach the resistance cluster near 1.5460 mark.
Meanwhile, the lower trend line of a dominant channel up pattern will provide support close by.
