EUR/AUD: Temporary Top Was Formed

Technical Reports

Trading of the cross is neutral for consolidation, with a temporary top at 1.6189. Further growth is not ruled out, while support 1.5857 keeps. Pivot points are at: (S1) 1.6008; (P) 1.6100; (R1) 1.6149.

Trading above 1.6189 will renew recent growth from 1.5153 to 100% projection of 1.5153 to 1.5976 from 1.5621 at 1.6444. Overcoming of 1.5857 will point out trend reversal. In that case, trading will back to the downside for support 1.5621.

The medium term growth from 1.3624 could extend to retest maximum 1.6587. Upside should be bounded by key resistance 1.6587. Overcoming of support 1.5621 will point out a medium term trend reversal.