EUR/AUD may fall 76 - 112 pips

Our pivot point stands at 1.6537.

Our preference

The downside prevails as long as 1.6537 is resistance.

Alternative scenario

Above 1.6537, look for 1.6597 and 1.6633.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6498 and 1.6508).

Supports and resistances

1.6633 **

1.6597 *

1.6537 **

1.6513

1.6485 last

1.6409

1.6373 **

1.6337 *

1.6301 **

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