GBP/AUD intraday: the RSI is oversold
Our pivot point is at 1.9172.
Our preference: the downside prevails as long as 1.9172 is resistance.
Alternative scenario: above 1.9172, look for 1.9223 and 1.9254.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9171 and 1.9250).
Supports and resistances:
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