Recovery In EUR/AUD
Trading is neutral, as the cross recovered after support from 4 hour 55 EMA. Pivot points are at: (S1) 1.6174; (P) 1.6220; (R1) 1.6302.
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), as consolidation from a v 1.6353 could widen further with another fall.
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.