GBP/AUD may rise 67 - 100 pips

Our pivot point stands at 1.9492.

Our preference

As long as 1.9492 is support look for 1.9639.

Alternative scenario

Below 1.9492, expect 1.9437 and 1.9404.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9529 and 1.9490).

Supports and resistances

1.9705 **

1.9672 *

1.9639 **

1.9606

1.9539 last

1.9514

1.9492 **

1.9437 *

1.9404 **

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