GBP/AUD may rise 57 - 82 pips

1.9199 is our pivot point.

Our preference

The upside prevails as long as 1.9199 is support.

Alternative scenario

The downside breakout of 1.9199 would call for 1.9157 and 1.9132.

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 1.9210 and 1.9219).

Supports and resistances

1.9368 **

1.9343 *

1.9318 **

1.9293

1.9236 last

1.9215

1.9199 **

1.9157 *

1.9132 **

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