The EUR/AUD has been essentially sideways since late 2015 after it rallied to almost 1.66. Let's take a look at the technical picture as the pair slides into new lows on the year and new 52-week lows.Prevous update on EUR/AUDEUR/AUD 10/20 daily chart(click to enlarge)Broken support factors:- As we can see in the daily chart, price action has flattened and started to show bearish bias in 2016.- Price broke below a rising trendline, which would be more clearly seen in the weekly chart below.- This week, it extended below a support area that went back to June 2015. - The breaks of these support factors open up a bearish outlook for EUR/AUD.- Note the way price found resistance from the moving average cluster after price fell below this cluster. This is also a sign that EUR/AUD is turning bearish.EUR/AUD weekly chart(click to enlarge)1.3666 in sight.- The weekly chart shows that a rally since 2012 ended in 2015. - There was a consolidation period in 2016, and now price appears to be breaking below that consolidation structure.- There might be some support around 1.40, a psychological level and previous support pivot. - A more aggressive but still viable target could be the 1.3666, 2015-low. - Some more show of resistance up in the 1.4450-1.4550 area would give me more confidence of the bearish outlooks.- A break above 1.48 on the other hand put the 1.3666 target on hold, and revive a possible bullish outlook, or at least an attempt with 1.50 as a key resistance to this scenario.