Growth Resumption In EUR/AUD
Trading is on the upside, as growth resumed after brief consolidation and reached maximum 1.6220. Pivot points are at: (S1) 1.6089; (P) 1.6146; (R1) 1.6221.
Hitting of support 1.6039 will point out a short term topping. Overcoming of 100% projection of 1.5271 to 1.5886 from 1.5601 at 1.6216 will widen the larger uptrend to 161.8% projection at 1.6596. Lengthier consolidation 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.