Long on EURAUD

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EURAUD looks quite bullish in the short term, as it looks to go up to and retest the top of the channel. The pair will be poised for a bullish run as German unemployment data and Euro-Zone Consumer Price Index Estimate data emerges in the near future. Lack of faith in the australian dollar could also move the pair upwards, at least until the 1.64-1.65 level and perhaps higher.