EUR/AUD: Range Trading Goes On
Trading tone remains neutral, as the cross is staying in a range below 1.6357. The forecast will stay bullish while support 1.5984 keeps. Pivot points are at: (S1) 1.6007; (P) 1.6094; (R1) 1.6154.
Overcoming of 1.6357 will indicate resumption of the larger uptrend for key 1.6587 resistance. Recent sideway trading is awaited to extend further. Break of 1.5984 will indicate trend reversal.
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.