EUR/AUD intraday: the RSI is oversold
1.6612 is our pivot point.
Our preference: rebound towards 1.6746.
Alternative scenario: the downside breakout of 1.6612 would call for 1.6564 and 1.6535.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6686 and 1.6757).
Supports and resistances:
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