Bottoming in EUR/AUD is Possible

Trading in the pair is on the downside. Pivot points are at: (S1) 1.4432; (P) 1.4518; (R1) 1.4563.

The pair can target fibonacci level at 61.8% retracement of 1.3624 to 1.5226 at 1.4236. Trading above 1.4617 will back to the upside for 55 day EMA (now at 1.4744). Short term bottoming in the pair is possible.

Corrective drop from 1.6587 has completed at 1.3624. The pair can test key resistance 1.6587 and retest key support zone around 1.3624.