GBP/AUD may rise 76 - 107 pips

Our pivot point is at 1.9572.

Our preference

The upside prevails as long as 1.9572 is support.

Alternative scenario

The downside breakout of 1.9572 would call for 1.9520 and 1.9489.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9574 and 1.9566).

Supports and resistances

1.9785 **

1.9754 *

1.9723 **

1.9692

1.9616 last

1.9592

1.9572 **

1.9520 *

1.9489 **

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