EUR/AUD may rise 58 - 86 pips

Our pivot point is at 1.6182.

Our preference

As long as 1.6182 is support look for 1.6318.

Alternative scenario

Below 1.6182, expect 1.6135 and 1.6107.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6224 and 1.6205).

Supports and resistances

1.6374 **

1.6346 *

1.6318 **

1.6290

1.6232 last

1.6200

1.6182 **

1.6135 *

1.6107 **

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