GBP/AUD may fall 73 - 108 pips

Our pivot point stands at 1.9436.

Our preference

The downside prevails as long as 1.9436 is resistance.

Alternative scenario

Above 1.9436, look for 1.9495 and 1.9530.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9424 and 1.9435).

Supports and resistances

1.9530 **

1.9495 *

1.9436 **

1.9414

1.9385 last

1.9312

1.9277 **

1.9242 *

1.9207 **

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