EUR/AUD may rise 61 - 90 pips

1.6199 is our pivot point.

Our preference

As long as 1.6199 is support look for 1.6339.

Alternative scenario

The downside breakout of 1.6199 would call for 1.6151 and 1.6123.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6241 and 1.6228).

Supports and resistances

1.6395 **

1.6367 *

1.6339 **

1.6310

1.6249 last

1.6217

1.6199 **

1.6151 *

1.6123 **

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