Fall Resumption In EUR/AUD
Trading is on the downside, as fall from 1.6351 extends lower. Hitting of minor support 1.6175 indicates rejection from 1.6353 and dampens the bullish view. Pivot points are at: (S1) 1.6151; (P) 1.6207; (R1) 1.6237.
While deeper fall is not excluded, downside should be contained by support 1.5984 to bring uptrend resumption. Price moves from 1.6353 are corrective.
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.