GBP/AUD may rise to 1.9937 - 2.0158

Our pivot point is at 1.9112.

Our preference

Our next up target stands at 2.0158.

Alternative scenario

The downside breakout of 1.9112 would call for 1.8743 and 1.8523.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.9432 and 1.9472).

Supports and resistances

2.0600 **

2.0379 *

2.0158 **

1.9937

1.9494 last

1.9257

1.9112 **

1.8743 *

1.8523 **

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