EUR/AUD may rise 65 - 93 pips

Our pivot point stands at 1.6204.

Our preference

As long as 1.6204 is support look for 1.6338.

Alternative scenario

Below 1.6204, expect 1.6157 and 1.6129.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6242 and 1.6233).

Supports and resistances

1.6394 **

1.6366 *

1.6338 **

1.6310

1.6245 last

1.6223

1.6204 **

1.6157 *

1.6129 **

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