EUR/AUD: Range Trading Continues

Technical Reports

Trading tone is still neutral, but another growth is expected, considering minor support 1.5696. The pair is staying in a range below 1.5886. Pivot points are at: (S1) 1.5770; (P) 1.5810; (R1) 1.5854.

Trading above 1.5886 will renew the recoil from 1.5271 to maximum 1.6189. 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.