Consolidation in EUR/AUD Continues

Trading is neutral, as the pair has recoiled ahead of support 1.5458. Price moves from 1.5770 is a consolidation. Pivot points are at: (S1) 1.5486; (P) 1.5551; (R1) 1.5608.

Overcoming of 1.5770 will prolong a medium term growth to 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939. Support above 1.5226 will bring a recoil.

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.