EUR/AUD Remains In Consolidation

Technical Reports

Stance of trading is neutral with a temporary top at 1.5823. Consolidation below temporary high goes on. Pivot points are at: (S1) 1.5700; (P) 1.5745; (R1) 1.5776.

Trading above 1.5823 will widen the recoil from 1.5271 to maximum 1.6139. Overcoming of 1.5617 will back trading to the downside for minor support 1.5425. The pair’s increase might prolong, while 1.5617 keeps.

A medium term increase from 1.3624 continues. Corrective drop from 1.6189 has completed at 1.5217 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. Overcoming of 1.6189 will aline key resistance 1.6587.