GBP/AUD may rise 72 - 107 pips

1.9346 is our pivot point.

Our preference

As long as 1.9346 is support look for 1.9520.

Alternative scenario

Below 1.9346, expect 1.9288 and 1.9253.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.9411 and 1.9384).

Supports and resistances

1.9589 **

1.9555 *

1.9520 **

1.9485

1.9413 last

1.9369

1.9346 **

1.9288 *

1.9253 **

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