EUR/AUD may fall 76 - 111 pips

Our pivot point stands at 1.6515.

Our preference

The downside prevails as long as 1.6515 is resistance.

Alternative scenario

The upside breakout of 1.6515, would call for 1.6575 and 1.6611.

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 1.6497 and 1.6494).

Supports and resistances

1.6611 **

1.6575 *

1.6515 **

1.6491

1.6463 last

1.6387

1.6352 **

1.6316 *

1.6280 **

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