GBP/AUD may fall 71 - 106 pips

1.9396 is our pivot point.

Our preference

The downside prevails as long as 1.9396 is resistance.

Alternative scenario

The upside breakout of 1.9396, would call for 1.9455 and 1.9489.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9381 and 1.9375).

Supports and resistances

1.9489 **

1.9455 *

1.9396 **

1.9373

1.9347 last

1.9276

1.9241 **

1.9206 *

1.9172 **

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