Strong Recoil In EUR/AUD
Trading is on the upside for resistance 1.6353, as strong recoil from 1.6145 revived the bullish case. Pivot points are at: (S1) 1.6205; (P) 1.6280; (R1) 1.6415.
Overcoming of resistance 1.6353 will point out resumption of larger uptrend and aline key resistance 1.6587. Trading below support 1.6145 will become neutral.
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.