GBP/AUD may rise 71 - 103 pips

Our pivot point is at 1.9453.

Our preference

As long as 1.9453 is support look for 1.9604.

Alternative scenario

Below 1.9453, expect 1.9400 and 1.9368.

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 1.9492 and 1.9461).

Supports and resistances

1.9668 **

1.9636 *

1.9604 **

1.9572

1.9501 last

1.9474

1.9453 **

1.9400 *

1.9368 **

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