Further Decline in EUR/AUD is Possible
Trading tone is neutral. Consolidation from 1.5656 continues. Pivot points are at: (S1) 1.5506; (P) 1.5532; (R1) 1.5564.
Trading above 1.5656 will extend a medium term growth from 1.3624 to 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939. Downside should be contained. Deeper fall is possible.
Corrective drop from 1.6587 has completed at 1.3624. The pair can retest key resistance 1.6587. Overcoming of 1.6587 will resume a long term growth from 1.1602.