EUR/AUD may rise 40 - 57 pips

1.6035 is our pivot point.

Our preference

Rebound towards 1.6119.

Alternative scenario

The downside breakout of 1.6035 would call for 1.6006 and 1.5989.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1.6059) but under its 50 period moving average (1.6093).

Supports and resistances

1.6153 **

1.6136 *

1.6119 **

1.6102

1.6062 last

1.6046

1.6035 **

1.6006 *

1.5989 **

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