EUR/AUD may fall 70 - 103 pips

Our pivot point stands at 1.6500.

Our preference

The downside prevails as long as 1.6500 is resistance.

Alternative scenario

Above 1.6500, look for 1.6556 and 1.6590.

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 1.6462 and 1.6473).

Supports and resistances

1.6590 **

1.6556 *

1.6500 **

1.6478

1.6451 last

1.6381

1.6348 **

1.6315 *

1.6281 **

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