EUR/AUD may fall 37 - 54 pips

Our pivot point stands at 1.6085.

Our preference

Technical rebound towards 1.6085 before a new drop.

Alternative scenario

Above 1.6085, look for 1.6114 and 1.6132.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (1.6057) but below its 50 period moving average (1.6063).

Supports and resistances

1.6132 **

1.6114 *

1.6085 **

1.6074

1.6058 last

1.6021

1.6004 **

1.5986 *

1.5969 **

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