GBP/AUD may rise 51 - 76 pips

Our pivot point stands at 1.9196.

Our preference

As long as 1.9196 is support look for 1.9312.

Alternative scenario

Below 1.9196, expect 1.9154 and 1.9129.

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 above its 20 and 50 period moving average (respectively at 1.9232 and 1.9211).

Supports and resistances

1.9362 **

1.9337 *

1.9312 **

1.9287

1.9236 last

1.9212

1.9196 **

1.9154 *

1.9129 **

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