The EUR/AUD Has Recoiled

Technical Reports

Trading tone is neutral, as the pair recoiled after support from 1.5626. Pivot points are at: (S1) 1.5676; (P) 1.5733; (R1) 1.5820.

Overcoming of 1.5626 will aline 61.8% retracement of 1.5153 to 1.5976 at 1.5467 and below. Break of minor resistance 1.5787 will point out completion of the pull back from 1.5976, and trading 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.