Rise Of EUR/AUD Has Resumed
Trading is on the upside for 61.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.5981, as growth from 1.5601 is resuming. Pivot points are at: (S1) 1.5894; (P) 1.5926; (R1) 1.5969.
The next target will be 100% projection at 1.6216, which is close to high 1.6189. Trading below minor support 1.5874 will point out widening of consolidation from 1.5945 with another fall. Resumption of a larger rise is expected.
A medium term increase from 1.3624 goes on. Hitting of support 1.5601 will point out a medium term trend reversal, and will bring a test on key support 1.5271. Overcoming of 1.6189 will bring test on 1.6587.