EUR/AUD may fall 38 - 53 pips

1.6091 is our pivot point.

Our preference

As long as 1.6091 is resistance look for 1.6013.

Alternative scenario

Above 1.6091, look for 1.6117 and 1.6132.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6067 and 1.6069).

Supports and resistances

1.6132 **

1.6117 *

1.6091 **

1.6081

1.6066 last

1.6028

1.6013 **

1.5998 *

1.5983 **

Number of asterisks represents the strength of support and resistance levels.