EUR/AUD Dips Lower

Technical Reports

Trading is on the downside, as decline resumed after short consolidation from 1.5575. Pivot points are at: (S1) 1.5506; (P) 1.5584; (R1) 1.5649.

The drop from 1.6357 should aline cluster support zone 1.5271/5313. Overcoming of resistance 1.5693 will indicate a short term bottoming.

Uptrend from 1.3624 is possibly completed at 1.6357, ahead of 1.6587. Deeper fall is expected to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. Overcoming of 1.6357 will confirm uptrend resumption.