EUR/AUD Recovers After Drop

Technical Reports

Trading is neutral for consolidation above temporary minimum 1.5773. Pivot points are at: (S1) 1.5800; (P) 1.5850; (R1) 1.5924.

Overcoming of 1.5621 will point out trend reversal. Upside of recovery should be bounded below minor resistance 1.6055. Break of 1.6059 will aline maximum 1.6189.

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 1.5621 should confirm a medium term topping and bring deeper drop back to 1.5153 and possibly below.