EUR/AUD may rise 43 - 63 pips

Our pivot point is at 1.6375.

Our preference

As long as 1.6375 is support look for 1.6472.

Alternative scenario

The downside breakout of 1.6375 would call for 1.6342 and 1.6322.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6388 and 1.6354).

Supports and resistances

1.6512 **

1.6492 *

1.6472 **

1.6452

1.6409 last

1.6388

1.6375 **

1.6342 *

1.6322 **

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