Corrective Bounce In EUR/AUD Might Extend

Technical Reports

Trading is neutral with focus on minor support 1.5643. Trading below minor support 1.5643 will indicate completion of the corrective growth from 1.5519. Pivot points are at: (S1) 1.5628; (P) 1.5694; (R1) 1.5739.

Trading above 1.5781 will extend the corrective bounce from 1.5519 to 38.2% retracement of 1.6357 to 1.5519 at 1.5839. Upside should be limited below support turned resistance 1.5984 to bring fall resumption.

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.