EUR/AUD may rise 59 - 88 pips

Our pivot point stands at 1.6266.

Our preference

The upside prevails as long as 1.6266 is support.

Alternative scenario

The downside breakout of 1.6266 would call for 1.6217 and 1.6188.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6274 and 1.6252).

Supports and resistances

1.6453 **

1.6424 *

1.6394 **

1.6365

1.6306 last

1.6286

1.6266 **

1.6217 *

1.6188 **

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