EUR/AUD may fall 68 - 101 pips

Our pivot point stands at 1.6389.

Our preference

The downside prevails as long as 1.6389 is resistance.

Alternative scenario

Above 1.6389, look for 1.6444 and 1.6477.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6375 and 1.6389).

Supports and resistances

1.6477 **

1.6444 *

1.6389 **

1.6367

1.6346 last

1.6278

1.6245 **

1.6212 *

1.6180 **

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