GBP/AUD may fall 68 - 101 pips

Our pivot point is at 1.9203.

Our preference

As long as 1.9203 is resistance look for 1.9054.

Alternative scenario

The upside breakout of 1.9203, would call for 1.9258 and 1.9292.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (1.9144) but below its 50 period moving average (1.9166).

Supports and resistances

1.9292 **

1.9258 *

1.9203 **

1.9181

1.9155 last

1.9087

1.9054 **

1.9021 *

1.8988 **

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