GBP/AUD may rise 54 - 79 pips

1.9200 is our pivot point.

Our preference

As long as 1.9200 is support look for 1.9319.

Alternative scenario

The downside breakout of 1.9200 would call for 1.9158 and 1.9133.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9236 and 1.9228).

Supports and resistances

1.9369 **

1.9344 *

1.9319 **

1.9294

1.9240 last

1.9216

1.9200 **

1.9158 *

1.9133 **

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