EUR/AUD: Growth Is Progressing

Technical Reports

Trading is still on the upside, as growth resumed and reached maximum 1.6288. Pivot points are at: (S1) 1.6112; (P) 1.6167; (R1) 1.6205.

Trading below minor support 1.6121 will become neutral for consolidation. Running increase should aline 161.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.6596, which is close to another key resistance level at 1.6587.

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.