EUR/AUD may rise 67 - 100 pips

Our pivot point stands at 1.6351.

Our preference

As long as 1.6351 is support look for 1.6496.

Alternative scenario

The downside breakout of 1.6351 would call for 1.6295 and 1.6262.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6396 and 1.6389).

Supports and resistances

1.6563 **

1.6529 *

1.6496 **

1.6463

1.6396 last

1.6373

1.6351 **

1.6295 *

1.6262 **

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