GBP/AUD may rise 53 - 78 pips

1.8916 is our pivot point.

Our preference

Rebound towards 1.9030.

Alternative scenario

The downside breakout of 1.8916 would call for 1.8876 and 1.8851.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.8958 and 1.9004).

Supports and resistances

1.9078 **

1.9054 *

1.9030 **

1.9005

1.8952 last

1.8932

1.8916 **

1.8876 *

1.8851 **

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