GBP/AUD may rise 51 - 75 pips

1.9551 is our pivot point.

Our preference

Rebound towards 1.9661.

Alternative scenario

The downside breakout of 1.9551 would call for 1.9511 and 1.9487.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9606 and 1.9665).

Supports and resistances

1.9709 **

1.9685 *

1.9661 **

1.9637

1.9586 last

1.9566

1.9551 **

1.9511 *

1.9487 **

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