GBP/AUD may rise 74 - 107 pips

Our pivot point is at 1.9451.

Our preference

As long as 1.9451 is support look for 1.9604.

Alternative scenario

Below 1.9451, expect 1.9396 and 1.9363.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1.9511) but above its 50 period moving average (1.9472).

Supports and resistances

1.9670 **

1.9637 *

1.9604 **

1.9571

1.9497 last

1.9473

1.9451 **

1.9396 *

1.9363 **

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