EUR/AUD may fall 49 - 69 pips

1.6217 is our pivot point.

Our preference

The downside prevails as long as 1.6217 is resistance.

Alternative scenario

Above 1.6217, look for 1.6252 and 1.6273.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6195 and 1.6205).

Supports and resistances

1.6273 **

1.6252 *

1.6217 **

1.6204

1.6177 last

1.6128

1.6108 **

1.6087 *

1.6066 **

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