GBP/AUD may rise 60 - 87 pips

Our pivot point is at 1.9402.

Our preference

The upside prevails as long as 1.9402 is support.

Alternative scenario

The downside breakout of 1.9402 would call for 1.9357 and 1.9331.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9413 and 1.9395).

Supports and resistances

1.9579 **

1.9553 *

1.9527 **

1.9500

1.9440 last

1.9419

1.9402 **

1.9357 *

1.9331 **

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