GBP/AUD may rise 75 - 110 pips

1.9370 is our pivot point.

Our preference

As long as 1.9370 is support look for 1.9527.

Alternative scenario

Below 1.9370, expect 1.9311 and 1.9276.

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 pair is trading under its 20 period moving average (1.9418) but above its 50 period moving average (1.9397).

Supports and resistances

1.9596 **

1.9561 *

1.9527 **

1.9492

1.9417 last

1.9393

1.9370 **

1.9311 *

1.9276 **

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