EUR/AUD may rise 57 - 80 pips

Our pivot point stands at 1.6253.

Our preference

The upside prevails as long as 1.6253 is support.

Alternative scenario

Below 1.6253, expect 1.6214 and 1.6191.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6283 and 1.6282).

Supports and resistances

1.6415 **

1.6392 *

1.6368 **

1.6345

1.6288 last

1.6268

1.6253 **

1.6214 *

1.6191 **

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