EUR/AUD may rise 44 - 64 pips

Our pivot point is at 1.6370.

Our preference

The upside prevails as long as 1.6370 is support.

Alternative scenario

Below 1.6370, expect 1.6336 and 1.6316.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6375 and 1.6348).

Supports and resistances

1.6504 **

1.6484 *

1.6464 **

1.6444

1.6400 last

1.6383

1.6370 **

1.6336 *

1.6316 **

Number of asterisks represents the strength of support and resistance levels.