Recovery in EUR/AUD Goes On

Trading in the pair is on the upside for retesting of maximum 1.5226. Pivot points are at: (S1) 1.4709; (P) 1.4747; (R1) 1.4822.

Recovery in the pair points out completion of a pull back from 1.5226 after support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614.

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 widen to 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. The pair can retest 1.6587.