GBP/AUD may rise 67 - 100 pips

Our pivot point is at 1.9486.

Our preference

The upside prevails as long as 1.9486 is support.

Alternative scenario

The downside breakout of 1.9486 would call for 1.9431 and 1.9398.

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 1.9514 and 1.9486).

Supports and resistances

1.9705 **

1.9672 *

1.9639 **

1.9606

1.9539 last

1.9508

1.9486 **

1.9431 *

1.9398 **

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