EUR/AUD may rise 44 - 64 pips

1.6060 is our pivot point.

Our preference

The upside prevails as long as 1.6060 is support.

Alternative scenario

The downside breakout of 1.6060 would call for 1.6025 and 1.6005.

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 1.6082 and 1.6094).

Supports and resistances

1.6200 **

1.6179 *

1.6158 **

1.6138

1.6094 last

1.6074

1.6060 **

1.6025 *

1.6005 **

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