GBP/AUD may fall 65 - 98 pips

1.9558 is our pivot point.

Our preference

The downside prevails as long as 1.9558 is resistance.

Alternative scenario

Above 1.9558, look for 1.9612 and 1.9644.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9539 and 1.9534). Finally, the GBP/AUD is trading below its lower Bollinger band (standing at 1.9510).

Supports and resistances

1.9644 **

1.9612 *

1.9558 **

1.9537

1.9508 last

1.9443

1.9410 **

1.9378 *

1.9346 **

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