Consolidation In EUR/AUD Is Awaited

Technical Reports

Trading is on the downside for cluster support zone 1.5271/5313, considering minor resistance 1.5505. Pivot points are at: (S1) 1.5369; (P) 1.5407; (R1) 1.5468.

Trading above minor resistance 1.5505 will become neutral for consolidation. Still, recovery should be limited below resistance 1.5781. Fall resumption is not excluded.

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.