EUR/AUD may rise to 1.6636 - 1.6773

Our pivot point is at 1.6107.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.6107 would call for 1.5877 and 1.5740.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (1.6312) but below its 50 period moving average (1.6401).

Supports and resistances

1.7049 **

1.6911 *

1.6773 **

1.6636

1.6358 last

1.6197

1.6107 **

1.5877 *

1.5740 **

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