Recoil in EUR/AUD Goes On

Trading in the pair is on the upside, as recoil from 1.4625 continues. Pivot points are at: (S1) 1.4767; (P) 1.4863; (R1) 1.5045.

Pull back from 1.5226 should have completed at 1.4625. Further increase in the pair is possible for retesting of maximum 1.5226.

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.