Bounce Of EUR/AUD Is Bounded

Technical Reports

Trading tone is neutral, with a corrective price moves from 1.6353. Pivot points are at: (S1) 1.6083; (P) 1.6133; (R1) 1.6210.

Downside should be contained above 1.5886 cluster support (61.8% retracement of 1.5601 to 1.6353 at 1.5888). Trading above 1.6252 will bring retesting on 1.6353. The bounce from 1.5984 continues but upside is limited below resistance 1.6252.

Uptrend from 1.3624 is extending, 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.