Eur/Aud : Countertrend rally

Since breaking the big support level (much quicker than i expected) noted in the previous post for eur/aud, price has continued going lower in a corrective way. The downtrend probably comes from the difference in interest rates, away from the euro and into the more profitable australian dollar. That being said, it does not mean that there can't be technical countertrend rallies like the one i'm looking for now.

Eur/Aud : Big support

After a decline that lasted for an impressive 2 years and a half, price has been in range for almost a year now. I believe this range will last for a little longer and eventually break to the upside. A break below the 1.3000 level will invalidate this count. At that point the triangle will probably be counted as a bearish triangle.