EUR/AUD may fall 45 - 65 pips

1.6568 is our pivot point.

Our preference

The downside prevails as long as 1.6568 is resistance.

Alternative scenario

The upside breakout of 1.6568, would call for 1.6602 and 1.6622.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6559 and 1.6558).

Supports and resistances

1.6622 **

1.6602 *

1.6568 **

1.6555

1.6542 last

1.6497

1.6477 **

1.6457 *

1.6437 **

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