EUR/AUD may rise 58 - 86 pips

Our pivot point is at 1.6226.

Our preference

As long as 1.6226 is support look for 1.6356.

Alternative scenario

Below 1.6226, expect 1.6179 and 1.6151.

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 above its 20 and 50 period moving average (respectively at 1.6266 and 1.6249).

Supports and resistances

1.6412 **

1.6384 *

1.6356 **

1.6328

1.6270 last

1.6245

1.6226 **

1.6179 *

1.6151 **

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