EUR/AUD may rise 64 - 93 pips

1.6646 is our pivot point.

Our preference

The upside prevails as long as 1.6646 is support.

Alternative scenario

The downside breakout of 1.6646 would call for 1.6597 and 1.6567.

Comment

The RSI is above its neutrality area at 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 1.6664 and 1.6613).

Supports and resistances

1.6842 **

1.6813 *

1.6783 **

1.6754

1.6690 last

1.6665

1.6646 **

1.6597 *

1.6567 **

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