Decrease of EUR/AUD Should be Contained

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) 1.5631; (P) 1.5658; (R1) 1.5693.

Downside should be contained by support from 1.5626. Trading above minor resistance 1.5787 will back to the upside for retesting maximum 1.5976.

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.