EUR/AUD may fall to 1.5587 - 1.5798

Our pivot point stands at 1.6622.

Our preference

As long as 1.6622 is resistance look for 1.5587.

Alternative scenario

Above 1.6622, look for 1.6978 and 1.7190.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6337 and 1.6429).

Supports and resistances

1.7190 **

1.6978 *

1.6622 **

1.6482

1.6335 last

1.5798

1.5587 **

1.5377 *

1.5167 **

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