EUR/AUD – makes the turn

Bearish: We are currently @ 1.6402 after topping out and making the turn. We are looking for a continuation to the ATR Target @ 1.6333 with the overall target the 2.618 Fibo @ 1.6321. Watch the USDX for direction. The average daily true range (ATR) for the pair is 129 pips per day and it’s 90 day average is 132 pips per day. USDX is currently moving down.