EUR/AUD Poised To Continue The Fall

Note: FOMC This week!

Forex Strategy is Bearish: We are currently @ 1.5929 in a channel. We are looking to continue down to the ATR target @ 1.9606 area and ultimately the Day chart bottom @1.5810. USDX is currently Sideways today. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 167 pips per day and it’s 90-day average is 95 pips per day.