EUR/AUD may fall 78 - 110 pips

1.6530 is our pivot point.

Our preference

The downside prevails as long as 1.6530 is resistance.

Alternative scenario

The upside breakout of 1.6530, would call for 1.6584 and 1.6616.

Comment

The RSI is below 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 1.6514 and 1.6545).

Supports and resistances

1.6616 **

1.6584 *

1.6530 **

1.6509

1.6486 last

1.6408

1.6376 **

1.6345 *

1.6313 **

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