GBP/AUD may rise 67 - 101 pips

Our pivot point is at 1.9117.

Our preference

The upside prevails as long as 1.9117 is support.

Alternative scenario

The downside breakout of 1.9117 would call for 1.9061 and 1.9028.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.9131 and 1.9147). Finally, the GBP/AUD is trading above its upper Bollinger band (standing at 1.9169).

Supports and resistances

1.9338 **

1.9305 *

1.9272 **

1.9238

1.9171 last

1.9139

1.9117 **

1.9061 *

1.9028 **

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