EUR/AUD: Trading Remains Neutral, Despite Strong Recovery
Trading is neutral, despite strong recovery. The pair stays below resistance 1.5886. Pivot points are at: (S1) 1.5725; (P) 1.5808; (R1) 1.5868.
Another growth is expected, considering minor support 1.5696. Trading above 1.5886 will aline resistance zone 1.6139/89. Overcoming of minor support 1.5695 will point out a near term topping. If that happens, focus will be back on support 1.5425.
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.