EUR/AUD may rise 62 - 91 pips

Our pivot point stands at 1.6119.

Our preference

Rebound towards 1.6253.

Alternative scenario

Below 1.6119, expect 1.6070 and 1.6042.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.6162) but below its 50 period moving average (1.6175).

Supports and resistances

1.6311 **

1.6282 *

1.6253 **

1.6224

1.6162 last

1.6138

1.6119 **

1.6070 *

1.6042 **

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