The EUR/AUD Has Retreated After Sharp Rise

Technical Reports

Trading tone is neutral, as the cross has retreated after reaching 1.5816. Another growth is expected in the pair. Pivot points are at: (S1) 1.5660; (P) 1.5738; (R1) 1.5785.

Trading below minor support 1.5606 will back to the downside. Overcoming of 1.5770 will point out resumption of a medium term increase from 1.3264, and the pair will aline key long term resistance 1.6587.

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.