Fall Of EUR/AUD Extends

Technical Reports

Trading is on the downside for 61.8% retracement of 1.5271 to 1.5888 at 1.5507. Drop from 1.5888 continues. Pivot points are at: (S1) 1.5614; (P) 1.5638; (R1) 1.5660.

Trading above minor resistance 1.5656 will become neutral for recovery. Overcoming of 61.8% retracement of 1.5271 to 1.5888 at 1.5507 will bring retest of a low 1.5271.

A medium term increase from 1.3624 is expected to continue through maximum 1.6189 to key resistance 1.6587. Overcoming of 1.5271 will complete a head and shoulder top pattern (ls: 1.5770, h: 1.6189, rs: 1.5888). In that case, a medium term trend reversal will occur.