EUR/AUD doing a bearish crossover

EUR/AUD doing a bearish crossover

EUR/AUD is extending the decline across the markets and we can expect a duplication of the cycle started since end of May. Currently, the pair is targeting the Fibonacci expansion zone of 100% at 1.4473, where a rebound could happen in order to correct the fall. If that happens, it can go as long as the 200 SMA at H4 chart around 1.4800.

RSI indicator is at the negative territory, favoring for more weakness until 1.4332 as the maximum range to reach.

EURAUDmH4.png

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