1,6486. EUR AUD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,6200 support.
=> We could take a short position at 1,6500. We will put the stop loss above 1,6550 (-50 pips). The targets are 1,6400 (+100 pips) 1,6300 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,6530 - 1,6630
Supports
1,6435 - 1,6400