EUR/AUD: Short Term Topping Is Projected

Technical Reports

Trading is still on the upside, considering minor support 1.6223. Pivot points are at: (S1) 1.6266; (P) 1.6311; (R1) 1.6341.

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. Overcoming of 1.6223 will point out a short term topping. Lengthier consolidation is expected.

Uptrend from 1.3624 has resumed, and further growth should be seen to retest 1.6587. Overcoming of support 1.5601 will be the first signal of a medium term trend reversal. Break of 1.6587 will renew the long term growth and aline fibonacci level 1.7488.