EURAUD - W - MAJOR PRICE COMPRESSION LEADING TOWARD BREAKOUT

The chart more or less says it all. We likely will be looking at two scenarios : break of the upper trendline or a break below the triangle. Major points of support reside around 1.3700 and 1.3200 levels. A break to the upside would likely reach the 1.5300 level with a possible move toward 1.5800. We'll be keeping an eye on this one to catch the opportunities that market will present.