EUR/AUD may rise 51 - 75 pips

1.6567 is our pivot point.

Our preference

The upside prevails as long as 1.6567 is support.

Alternative scenario

The downside breakout of 1.6567 would call for 1.6527 and 1.6503.

Comment

The RSI is above its neutrality area at 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 1.6597 and 1.6576).

Supports and resistances

1.6727 **

1.6703 *

1.6679 **

1.6655

1.6604 last

1.6583

1.6567 **

1.6527 *

1.6503 **

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