GBP/AUD may rise 75 - 107 pips

Our pivot point is at 1.9450.

Our preference

As long as 1.9450 is support look for 1.9600.

Alternative scenario

The downside breakout of 1.9450 would call for 1.9396 and 1.9364.

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 above its 20 and 50 period moving average (respectively at 1.9487 and 1.9452).

Supports and resistances

1.9663 **

1.9631 *

1.9600 **

1.9568

1.9493 last

1.9471

1.9450 **

1.9396 *

1.9364 **

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