Short Term Top Was Formed In EUR/AUD

Technical Reports

Trading is on the downside, as a short term top was formed at 1.6353. Pull back from 1.6353 could prolong to 38.2% retracement of 1.5601 to 1.6353 at 1.6066. Pivot points are at: (S1) 1.6159; (P) 1.6250; (R1) 1.6303.

Overcoming of 1.6353 will point out resumption of a larger uptrend to key resistance level 1.6587. Downside should be contained above 1.5886 cluster support (61.8% retracement at 1.5888). Growth resumption 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.