GBP/AUD may fall 51 - 74 pips

Our pivot point is at 1.9034.

Our preference

The downside prevails as long as 1.9034 is resistance.

Alternative scenario

The upside breakout of 1.9034, would call for 1.9073 and 1.9096.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9014 and 1.9013).

Supports and resistances

1.9096 **

1.9073 *

1.9034 **

1.9019

1.9002 last

1.8951

1.8928 **

1.8905 *

1.8882 **

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