Our pivot point stands at 1.6297.
Our preference: the upside prevails as long as 1.6297 is support.
Alternative scenario: below 1.6297, expect 1.6243 and 1.6211.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6248 and 1.6226). Finally, the EUR/AUD is trading above its upper Bollinger band (standing at 1.6339).
Supports and resistances:
1.6507 **
1.6474 *
1.6442 **
1.6410
1.6344 last
1.6318
1.6297 **
1.6243 *
1.6211 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 04-05-2023 at 10:46 UTC+1
Price reference: 1.6344 last known on 04-05-2023 at 10:46 UTC+1
Investment horizon: INTRADAY