Trend Reversal in EUR/AUD is Expected

Technical Reports

The cross stays in a range of 1.5852/6084 and trading is still neutral. Further growth is not ruled out, and trading above minor resistance 1.6084 will back to the upside for 1.6189. Pivot points are at: (S1) 1.5864; (P) 1.5941; (R1) 1.5991.

Trading above 1.6189 will renew recent growth from 1.5153 to key resistance 1.6587. 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 continues for key resistance level 1.6587. Upside should be bounded by key resistance 1.6587. Overcoming of support 1.5621 will point out a medium term trend reversal. Forecast of the cross will remain bullish even in case of a deeper pull back.