EUR/AUD may rise 32 - 48 pips

1.6026 is our pivot point.

Our preference

The upside prevails as long as 1.6026 is support.

Alternative scenario

The downside breakout of 1.6026 would call for 1.6000 and 1.5985.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6050 and 1.6046).

Supports and resistances

1.6131 **

1.6116 *

1.6101 **

1.6085

1.6053 last

1.6036

1.6026 **

1.6000 *

1.5985 **

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