EURAUD: Uptrend still intact

This pair has been in the healthy uptrend since Oct 2012, and there are no signs of the trend shifting just yet. Unless the price closes below 1.6090 or 1.5900, we are still very much in the uptrend depicted by the parallel channel. The targets are shown in the blue lines above the current price, and support levels are shown in the red lines below the current price.

We will be using the parallel channel as our stop loss as price moves in our favour. The ultimate target will be the top of the parallel channel.

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