EUR/AUD may rise 56 - 84 pips

Our pivot point stands at 1.6130.

Our preference

Rebound towards 1.6258.

Alternative scenario

The downside breakout of 1.6130 would call for 1.6083 and 1.6055.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6181 and 1.6223).

Supports and resistances

1.6314 **

1.6286 *

1.6258 **

1.6230

1.6174 last

1.6148

1.6130 **

1.6083 *

1.6055 **

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