The EUR/AUD has formed a strong resistance at 1.6271 zone. However, fresh selling could be possible if the price gets to the POC zone.
Today the only news concerning EUR is the German CPI. It represents Change in the price of goods and services purchased by consumers and it could be important for the overall direction of the EUR/AUD currency pair. However, the news is categorized as a medium-impact so only a high deviation from the forecast could impact the price in the more volatile manner.
1.6305-24 is the POC zone where the price might react but only if the cluster of resistance breaks. A rejection will aim for 1.6271 and 1.6225. The final target is 1.6189.
The analysis has been done with the CAMMACD.MTF template.
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