EUR/AUD may rise 61 - 92 pips

Our pivot point is at 1.6245.

Our preference

As long as 1.6245 is support look for 1.6386.

Alternative scenario

The downside breakout of 1.6245 would call for 1.6194 and 1.6164.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6291 and 1.6284).

Supports and resistances

1.6447 **

1.6416 *

1.6386 **

1.6355

1.6294 last

1.6266

1.6245 **

1.6194 *

1.6164 **

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