Dips in the EUR/AUD have found buyers near the 61.8% Fibonacci retracement at 1.6300 level. However, horizontal resistance all summer has been at the 1.6600 level and just above that is the 200dma. The 200dma has been a substantial support/resistance level since the end of April.  A sustained break of the 200dma is needed, but if it that happens, the risk of a quick move towards the 1.7000 level would be in the cards. 

 

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