AUD/USD may rise 55 - 74 pips

Our pivot point is at 0.6737.

Our preference

Rise to 0.6843.

Alternative scenario

The downside breakout of 0.6737 would call for 0.6706 and 0.6687.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is below its 20 period moving average (0.6777) but above its 50 period moving average (0.6769).

Supports and resistances

0.6880 **

0.6861 *

0.6843 **

0.6824

0.6769 last

0.6749

0.6737 **

0.6706 *

0.6687 **

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