GBP/AUD may fall 46 - 68 pips

1.9001 is our pivot point.

Our preference

The downside prevails as long as 1.9001 is resistance.

Alternative scenario

The upside breakout of 1.9001, would call for 1.9038 and 1.9060.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.8993 and 1.9000).

Supports and resistances

1.9060 **

1.9038 *

1.9001 **

1.8987

1.8970 last

1.8924

1.8902 **

1.8880 *

1.8858 **

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