GBP/AUD intraday: as long as 1.9116 is support look for 1.9293
Our pivot point stands at 1.9116.
Our preference: as long as 1.9116 is support look for 1.9293.
Alternative scenario: below 1.9116, expect 1.9050 and 1.9011.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9149 and 1.9081).
Supports and resistances:
1.9371 **
1.9332 *
1.9293 **
1.9254
1.9175 last
1.9141
1.9116 **
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