EUR/AUD may rise 46 - 61 pips

Our pivot point stands at 1.6128.

Our preference

As long as 1.6128 is support look for 1.6213.

Alternative scenario

The downside breakout of 1.6128 would call for 1.6101 and 1.6086.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6150 and 1.6124).

Supports and resistances

1.6245 **

1.6229 *

1.6213 **

1.6198

1.6152 last

1.6138

1.6128 **

1.6101 *

1.6086 **

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