EUR/AUD has been bearish since retreating from 1.46 at the beginning of the year. It came down to almost 1.36, which tested a critical support. Last week, we discussed buying EUR/AUD around 1.37 and the reward to risk that would go along with it.EUR/AUD Daily Chart 3/2(click to enlarge)Pivoting from 1.3660:- So far, price has pivoted from around 1.3660, showing respect to the critical support seen more clearly on the weekly chart below.- The 3/2 price action so far looks strong. 1.3890-1.39 might show some resistance since it was a high from last week.- However, I think there is upside to 1.41.Key Resistance:- 1.41 will be a key resistance.- There is a falling trendline and a previous support area .- Also, monitor the daily RSI as it approaches 60. If price finds resistance at 1.41 and the RSI turns down from around 60, we could be looking at a return to the bearish mode after a brief correction.EUR/AUD Weekly Chart (click to enlarge)Uncertainty:- The weekly chart shows the critical support at 1.3660 area. - While we could see some buying here, it is too early to call a bullish reversal.- I think there is more downside risk, or at least limited upside risk.- What I would like to see is some consolidation pattern above 1.36 and then a breakout above that pattern. This would give me more confidence that the market has confidence about the support here.