EUR/AUD may fall 52 - 74 pips

1.6560 is our pivot point.

Our preference

Under pressure below 1.6560.

Alternative scenario

Above 1.6560, look for 1.6596 and 1.6617.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6532 and 1.6529).

Supports and resistances

1.6617 **

1.6596 *

1.6560 **

1.6545

1.6527 last

1.6475

1.6453 **

1.6432 *

1.6410 **

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