EUR/AUD – Bullish Reversal Pattern Indicates Potential Upside Move

Key Observations:
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Pattern Structure:
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The left shoulder (S) formed around May 4–6.
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The head (H) is clearly visible at the low around May 12–13.
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The right shoulder (S) was completed around May 17–19.
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Neckline Breakout:
The price is now testing a neckline resistance zone, and a potential breakout to the upside is forming as the pair consolidates in a bullish symmetrical triangle. -
Support & Resistance:
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Support: 1.72456
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Immediate Resistance: 1.78780
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Major Resistance: 1.80215
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Price Target:
If the breakout holds, the price could rally toward the 1.78780 level, which aligns with the projected height of the inverse head and shoulders pattern added to the breakout point. A further extension toward 1.80215 is possible if momentum sustains.
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