GBP/AUD may rise 68 - 100 pips

1.9381 is our pivot point.

Our preference

Rebound towards 1.9526.

Alternative scenario

The downside breakout of 1.9381 would call for 1.9328 and 1.9296.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1.9424) but under its 50 period moving average (1.9439).

Supports and resistances

1.9589 **

1.9558 *

1.9526 **

1.9494

1.9426 last

1.9402

1.9381 **

1.9328 *

1.9296 **

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