EUR/AUD – Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

EUR/AUD - Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

The MACD is negative and below its signal line.

Our pivot point is at 1.6411.

Our preference: the downside prevails as long as 1.6411 is resistance.

Alternative scenario: above 1.6411, look for 1.6466 and 1.6499.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.6383 and 1.6388). Finally, the EUR/AUD has penetrated its lower Bollinger band (1.6365).

Supports and resistances:

1.6499 **

1.6466 *

1.6411 **

1.6389

1.6365 last

1.6296

1.6263 **

1.6230 *

1.6197 **

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