Bearish: We are currently @ 1.6504 in a channel in a range. We are looking to continue the channel to the ATR target @ 1.6428. There is a further S5 target @ 1.6366 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 99 pips per day and it’s 90 day average is 110 pips per day. USDX is hinting down.
EUR/AUD Could Head Lower
