Bearish: EUR/AUD is currently at 1.6275 at the start of a channel. If we can break the support here, we are looking for a continuation to the ATR target at 1.6142 with a further target the 2.618 Fibo at 1.6048 area.
Watch the USDX for directions. The average daily true range (ATR) for the pair is 135 pips per day, and its 180-day average is 133 pips per day. USDX is currently moving up.
