GBP/AUD may rise 71 - 103 pips

1.9451 is our pivot point.

Our preference

The upside prevails as long as 1.9451 is support.

Alternative scenario

The downside breakout of 1.9451 would call for 1.9397 and 1.9365.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.9483 and 1.9464).

Supports and resistances

1.9662 **

1.9630 *

1.9598 **

1.9566

1.9495 last

1.9472

1.9451 **

1.9397 *

1.9365 **

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