EUR/AUD intraday: the RSI is oversold
Our pivot point is at 1.6617.
Our preference: rebound towards 1.6754.
Alternative scenario: below 1.6617, expect 1.6569 and 1.6540.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6696 and 1.6767).
Supports and resistances:
CM Trade Mobile Application