EUR/AUD may rise 59 - 89 pips

1.6271 is our pivot point.

Our preference

As long as 1.6271 is support look for 1.6399.

Alternative scenario

Below 1.6271, expect 1.6222 and 1.6193.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6309 and 1.6269).

Supports and resistances

1.6457 **

1.6428 *

1.6399 **

1.6369

1.6310 last

1.6290

1.6271 **

1.6222 *

1.6193 **

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