The EUR/AUD is setting up a double bottom, or you can call it a rounded bottom, but it is premature to call a bullish outlook until a break above last week’s high of 1.4853. The EUR/AUD is wrapping up the week just below last week’s high of 1.4853. A break above 1.4855 would complete a double bottom and suggest at least some more short-term bullish correction, with the 1.4964 pivot as the first resistance. Without the bullish break, EUR/AUD is still bearish, but in consolidation. The daily chart shows a market that ended 2013 and started 2014 on a bullish note, but has been neutral and slightly bearish since the ... (full story)