EUR/AUD may fall 45 - 64 pips

Our pivot point stands at 1.6349.

Our preference

Target 1.6255.

Alternative scenario

The upside breakout of 1.6349, would call for 1.6382 and 1.6402.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6318 and 1.6318).

Supports and resistances

1.6402 **

1.6382 *

1.6349 **

1.6335

1.6319 last

1.6274

1.6255 **

1.6235 *

1.6215 **

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