EUR/AUD may rise 62 - 91 pips

1.6568 is our pivot point.

Our preference

The upside prevails as long as 1.6568 is support.

Alternative scenario

The downside breakout of 1.6568 would call for 1.6519 and 1.6490.

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 above its 20 and 50 period moving average (respectively at 1.6581 and 1.6572). Finally, the EUR/AUD is trading above its upper Bollinger band (standing at 1.6616).

Supports and resistances

1.6767 **

1.6738 *

1.6709 **

1.6680

1.6618 last

1.6588

1.6568 **

1.6519 *

1.6490 **

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