EUR/AUD may fall 35 - 51 pips

Our pivot point stands at 1.6248.

Our preference

The downside prevails as long as 1.6248 is resistance.

Alternative scenario

Above 1.6248, look for 1.6274 and 1.6290.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6234 and 1.6238).

Supports and resistances

1.6290 **

1.6274 *

1.6248 **

1.6237

1.6224 last

1.6189

1.6173 **

1.6157 *

1.6141 **

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