FX.co ★ EUR/AUD to drop to 1.6240-1.6226, June 26, 2020.

On the 4 hour chart, we can see that the EMA 34 is now moving through the body of the Bar. It means that EUR/AUD is now trading sideways but the CCI (14) & (CCI 50 ) is already bellow the 0 level. Therefore, the momentum is bearish. This pair may reach the 1.6240-1.6226 levels. This scenario is likely to occur if the pair does not grow and close above the 1.6420 level.

(Disclaimer)