The AUD has been taking the EUR for a ride since March 2020 with little chances for the bulls. On the daily time frame we have a downward trend line starting from April which has just been broken and retested. On the same daily we also have something like a double bottom as price has been trading within this range for about 8 weeks. With such a base been built it's obvious the bears are retreating and the bulls are about to take control. Back to the 4 hour we have seen price create a higher high and a recent higher low which completes an A B C, we are now looking for a D target which would be a -61.8 Fibonacci extension level off the most recent bullish move. On the daily that would be a 23.6 off the drop that started from march 2020. Stops are below the recent 4hr higher low