Upside Trading In EUR/AUD

Technical Reports

Trading is on the upside with focus on resistance 1.5781. Trading below minor support 1.5596 will back to the downside for 1.5346 and then cluster support zone 1.5271/5313. Pivot points are at: (S1) 1.5619; (P) 1.5704; (R1) 1.5811.

Overcoming of resistance 1.5781 will indicate completion of the corrective fall from 1.6357 earlier than expected. In that case, a near term forecast will be turned bullish for retesting high 1.6357.

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.