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EUR/AUD Continues to Rally from a Double Bottom

EUR/AUD found support around 1.4005 in the middle of January. Then, a week later, it tried to break lower, but traders quickly bid up the pair after a brief crack of 1.40. 

EUR/AUD 4H Chart 2/4
(click to enlarge)

Since a double bottom from 1.40, price has extended to 1.49 this week before retreating. 

In the 4H Chart we can see a shift from a bearish trend, to a neutral one, and now to a bullish one. Price has broken above the 200-, 100-, and 50-period SMAs, and the RSI has tagged 70. Will this short-term bullish trend continue?

If it does the 1.4550-1.46 area should provide support. 

In the 1H chart, EUR/AUD looks bullish with upward sloping SMAs and price trading above them. The RSI has also held above 40 after tagging 80, which shows maintenance of the bullish momentum. 

We are seeing buyers at 1.46, and EUR/AUD still looks bullish. In the near-term, tripping above 1.4710 could be a bullish continuation signal putting the 1.4850-1.49 highs back in focus.

EUR/AUD 1H Chart 2/4
(click to enlarge)