GBP/AUD may rise 60 - 85 pips

1.9177 is our pivot point.

Our preference

Rebound towards 1.9295.

Alternative scenario

The downside breakout of 1.9177 would call for 1.9135 and 1.9110.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9212 and 1.9248).

Supports and resistances

1.9345 **

1.9320 *

1.9295 **

1.9270

1.9210 last

1.9193

1.9177 **

1.9135 *

1.9110 **

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