GBP/AUD may rise 75 - 109 pips

1.9375 is our pivot point.

Our preference

As long as 1.9375 is support look for 1.9530.

Alternative scenario

The downside breakout of 1.9375 would call for 1.9316 and 1.9282.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9417 and 1.9391).

Supports and resistances

1.9600 **

1.9565 *

1.9530 **

1.9496

1.9421 last

1.9398

1.9375 **

1.9316 *

1.9282 **

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