AUD/USD may rise 38 - 56 pips

Our pivot point is at 0.6599.

Our preference

Rebound towards 0.6685.

Alternative scenario

The downside breakout of 0.6599 would call for 0.6568 and 0.6549.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6634 and 0.6659).

Supports and resistances

0.6723 **

0.6704 *

0.6685 **

0.6667

0.6629 last

0.6611

0.6599 **

0.6568 *

0.6549 **

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