The EUR/AUD Can Form a Short Term Top

Trading in the pair is on the upside as medium term growth from 1.3624 continues. Pivot points are at: (S1) 1.5543; (P) 1.5616; (R1) 1.5663.

Increase might extend to 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939. Overcoming of support 1.5458 will indicate a short term topping.

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.