EUR/AUD may rise 43 - 63 pips

1.6310 is our pivot point.

Our preference

As long as 1.6310 is support look for 1.6405.

Alternative scenario

Below 1.6310, expect 1.6276 and 1.6256.

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 1.6337 and 1.6327).

Supports and resistances

1.6445 **

1.6425 *

1.6405 **

1.6385

1.6342 last

1.6323

1.6310 **

1.6276 *

1.6256 **

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