EUR/AUD: Fall Could Extend

Technical Reports

Trading is on the downside for support 1.5626. It is expected, that the fall from 1.5976 will widen to 61.8% retracement of 1.5153 to 1.5976 at 1.5467 in case of overcoming of 1.5626. Pivot points are at: (S1) 1.5626; (P) 1.5725; (R1) 1.5776.

Downside should be contained by support from 1.5626. Trading above minor resistance 1.5787 will become neutral.

The medium term growth from 1.3624 could extend to retest maximum 1.6587. A medium term trend reversal is awaited, considering double projection target (61.8% projection of 1.4421 to 1.5770 from 1.5153 at 1.5987, and 100% projection of 1.3624 to 1.5226 from 1.4421at 1.6023). Overcoming of support 1.5626 will aline key support 1.5153.