EUR/AUD may fall 63 - 92 pips

Our pivot point stands at 1.6277.

Our preference

Under pressure below 1.6277.

Alternative scenario

The upside breakout of 1.6277, would call for 1.6326 and 1.6355.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6251 and 1.6226). Finally, the EUR/AUD is trading below its lower Bollinger band (standing at 1.6227).

Supports and resistances

1.6355 **

1.6326 *

1.6277 **

1.6258

1.6225 last

1.6162

1.6133 **

1.6105 *

1.6076 **

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