EUR/AUD may fall 72 - 105 pips

Our pivot point is at 1.6491.

Our preference

Technical rebound towards 1.6491 before a new drop.

Alternative scenario

The upside breakout of 1.6491, would call for 1.6547 and 1.6581.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (1.6420) but under its 50 period moving average (1.6438).

Supports and resistances

1.6581 **

1.6547 *

1.6491 **

1.6469

1.6436 last

1.6364

1.6331 **

1.6297 *

1.6264 **

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