EUR/AUD may rise 64 - 96 pips

1.6438 is our pivot point.

Our preference

The upside prevails as long as 1.6438 is support.

Alternative scenario

Below 1.6438, expect 1.6384 and 1.6352.

Comment

The RSI is above 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 1.6474 and 1.6473).

Supports and resistances

1.6649 **

1.6617 *

1.6585 **

1.6553

1.6489 last

1.6459

1.6438 **

1.6384 *

1.6352 **

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