Medium Term Rise in EUR/AUD is Resuming
Trading of the cross is on the upside, as the growth goes on. Overcoming of resistance 1.5770 suggests that a medium term increase from 1.3264 is resuming. Pivot points are at: (S1) 1.5635; (P) 1.5695; (R1) 1.5757.
Trading below minor support 1.5633 will become neutral. Overcoming of 1.5770 will target key long term support 1.6587.
Price moves from 1.5770 are corrective. The medium term growth from 1.3624 continues, and break of 1.5770 will widen the growth to retest maximum 1.6587. Overcoming of support 1.4949 will indicate a medium term trend reversal and bring retesting of a minimum 1.3624.