EUR/AUD may rise 60 - 89 pips

Our pivot point is at 1.6157.

Our preference

The upside prevails as long as 1.6157 is support.

Alternative scenario

Below 1.6157, expect 1.6108 and 1.6079.

Comment

The RSI is above 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 1.6180 and 1.6174).

Supports and resistances

1.6343 **

1.6314 *

1.6285 **

1.6256

1.6196 last

1.6176

1.6157 **

1.6108 *

1.6079 **

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