GBP/AUD may rise 72 - 104 pips

Our pivot point is at 1.9449.

Our preference

As long as 1.9449 is support look for 1.9596.

Alternative scenario

Below 1.9449, expect 1.9396 and 1.9364.

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 1.9486 and 1.9448).

Supports and resistances

1.9660 **

1.9628 *

1.9596 **

1.9564

1.9492 last

1.9470

1.9449 **

1.9396 *

1.9364 **

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