Downside of EUR/AUD Should be Bounded

Technical Reports

Trading in the pair is on the downside. Pivot points are at: (S1) 1.4664; (P) 1.4730; (R1) 1.4771.

Downside of the pair should be limited by support 1.4669. Overcoming of minor resistance 1.4894 will back trading to the upside for retesting of maximum 1.5226. Overcoming of 1.4669 will argue completion of an increase from 1.3642.

Price moves from medium term top 1.6587 are viewed as a correction, which could be completed at 1.3624 after defending key support 1.3671. It is awaited, that increase from 1.3642 will target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. The pair can retest 1.6587.