GBP/AUD may rise 66 - 99 pips

1.9378 is our pivot point.

Our preference

Rebound towards 1.9521.

Alternative scenario

The downside breakout of 1.9378 would call for 1.9323 and 1.9290.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.9409) but below its 50 period moving average (1.9448).

Supports and resistances

1.9587 **

1.9554 *

1.9521 **

1.9488

1.9422 last

1.9400

1.9378 **

1.9323 *

1.9290 **

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