EUR/AUD may rise 72 - 100 pips

Our pivot point is at 1.6265.

Our preference

The upside prevails as long as 1.6265 is support.

Alternative scenario

Below 1.6265, expect 1.6218 and 1.6190.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6285 and 1.6269).

Supports and resistances

1.6463 **

1.6435 *

1.6407 **

1.6379

1.6307 last

1.6284

1.6265 **

1.6218 *

1.6190 **

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