EUR/AUD may fall 66 - 96 pips

1.6272 is our pivot point.

Our preference

The downside prevails as long as 1.6272 is resistance.

Alternative scenario

The upside breakout of 1.6272, would call for 1.6323 and 1.6354.

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 1.6246 and 1.6260).

Supports and resistances

1.6354 **

1.6323 *

1.6272 **

1.6252

1.6229 last

1.6163

1.6133 **

1.6103 *

1.6072 **

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