EUR/AUD may rise to 1.6611 - 1.6749

Our pivot point is at 1.6115.

Our preference

Rebound towards 1.6749.

Alternative scenario

The downside breakout of 1.6115 would call for 1.5883 and 1.5746.

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 is trading above its 20 period moving average (1.6309) but under its 50 period moving average (1.6426).

Supports and resistances

1.7025 **

1.6887 *

1.6749 **

1.6611

1.6328 last

1.6206

1.6115 **

1.5883 *

1.5746 **

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