Fall Of EUR/AUD Has Resumed
Trading is on the downside, as the pair’s fall reached minimum 1.5660. Pivot points are at: (S1) 1.5642; (P) 1.5760; (R1) 1.5831.
Overcoming of support turned resistance 1.5774 will point out a short term bottoming. A medium term trend reversal is widely expected, with focus on key support 1.5621.
A medium term trend reversal is widely awaited. The cross got a strong support from 55 day EMA and rebounded. Running increase from 1.3624 could prolong to key resistance 1.6587. Still, upside should be bounded by strong resistance from 1.6587.