EUR/AUD may rise 58 - 86 pips

1.6164 is our pivot point.

Our preference

The upside prevails as long as 1.6164 is support.

Alternative scenario

Below 1.6164, expect 1.6117 and 1.6089.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6186 and 1.6172).

Supports and resistances

1.6349 **

1.6321 *

1.6293 **

1.6265

1.6207 last

1.6183

1.6164 **

1.6117 *

1.6089 **

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