GBP/AUD may rise 71 - 105 pips

1.9173 is our pivot point.

Our preference

The upside prevails as long as 1.9173 is support.

Alternative scenario

The downside breakout of 1.9173 would call for 1.9117 and 1.9084.

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 above its 20 and 50 period moving average (respectively at 1.9213 and 1.9208).

Supports and resistances

1.9396 **

1.9363 *

1.9330 **

1.9296

1.9225 last

1.9195

1.9173 **

1.9117 *

1.9084 **

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