GBP/AUD may fall 65 - 96 pips

Our pivot point is at 1.9452.

Our preference

Under pressure below 1.9452.

Alternative scenario

The upside breakout of 1.9452, would call for 1.9504 and 1.9536.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9420 and 1.9411). Finally, the GBP/AUD has penetrated its lower Bollinger band (1.9407).

Supports and resistances

1.9536 **

1.9504 *

1.9452 **

1.9431

1.9406 last

1.9341

1.9310 **

1.9279 *

1.9247 **

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