EUR/AUD: Triangle Breakout OpportunityEUR/AUDOANDA:EURAUDImmaculateTony^EURAUD is currently trading at 1.7878, forming a well-defined symmetrical triangle pattern after a strong uptrend that began in early 2023. The pair has maintained a bullish structure with higher lows along a clear trendline since mid-2022, culminating in a powerful breakout in March 2025. Technical Analysis Triangle Formation: Since April 2025, price has consolidated in a symmetrical triangle, with converging trendlines indicating compression before the next directional move. Support Zone: The 1.77 area has proven to be reliable support throughout June-July 2025, with multiple successful tests. Resistance Level: The 1.80 level has capped upward movement since April, creating the upper boundary of our triangle pattern. Momentum Indicators: The recent higher lows suggest underlying bullish pressure building within the triangle formation. Trading Strategy Given the overall uptrend and triangle formation, this setup offers a compelling trading opportunity: Bullish Trade Setup Entry: Buy at current market price (1.7878) or on a pullback to 1.7780 Stop Loss: Place below the triangle support at 1.7680 First Target: 1.8050 (triangle resistance) Second Target: 1.8300 (measured move from triangle height) Risk-Reward: Approximately 1:2.5 for the full move Alternative Approach Breakout Entry: Buy on a break above 1.8000 with a stop below 1.7780 Breakout Target: 1.8300-1.8400 Rationale The symmetrical triangle forming at the upper range of a strong uptrend typically resolves in the direction of the prevailing trend. With ^EURAUD showing resilience at support levels and maintaining its position above the long-term trendline, the probability favors an upside resolution. The March 2025 breakout demonstrated significant bullish momentum, and the current consolidation appears to be a pause rather than a reversal. The multiple tests of support at 1.77 without breaking lower further strengthens the bullish case. Key Levels to Watch Breakout Confirmation: Daily close above 1.8000 Support Breakdown Alert: Daily close below 1.7700 Major Support: Long-term trendline around 1.7000 Upside Potential: Previous high at 1.8550 (April 2025) ^EURAUD presents a classic triangle consolidation within an uptrend, offering a favorable risk-reward opportunity. The technical structure suggests accumulation rather than distribution, with price likely to resolve higher in alignment with the longer-term bullish trend. Traders should monitor the 1.80 resistance level closely, as a decisive break above this level could trigger a significant move higher, potentially targeting the April 2025 highs.