AUD/USD may rise 29 - 42 pips

Our pivot point is at 0.6634.

Our preference

As long as 0.6634 is support look for 0.6694.

Alternative scenario

The downside breakout of 0.6634 would call for 0.6612 and 0.6599.

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 0.6650 and 0.6641).

Supports and resistances

0.6720 **

0.6707 *

0.6694 **

0.6681

0.6652 last

0.6642

0.6634 **

0.6612 *

0.6599 **

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