EUR/AUD may rise 72 - 105 pips

1.6420 is our pivot point.

Our preference

Rebound towards 1.6573.

Alternative scenario

The downside breakout of 1.6420 would call for 1.6365 and 1.6332.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6471 and 1.6477).

Supports and resistances

1.6639 **

1.6606 *

1.6573 **

1.6540

1.6468 last

1.6442

1.6420 **

1.6365 *

1.6332 **

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