EUR/AUD: Further Growth Is Expected
Trading is neutral, as the cross fails to take out resistance 1.6353. Further growth is expected while support 1.6175 keeps. Pivot points are at: (S1) 1.6276; (P) 1.6316; (R1) 1.6382.
Break of 1.6175 will dampen the bullish forecast and widen the consolidation from 1.6353 with another fall. Overcoming of resistance 1.6353 will confirm the bullish case and aline key resistance 1.6587.
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.