Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD attracts selling interest, vulnerable to more downside

• GBP/AUD dipped on Monday as news of a peace proposal from Tehran   buoyed  risk sensitive Australian dollar.

.• A report published by Axios earlier on Monday, citing a US official and sources related to the matter, affirmed that Tehran has sent a peace proposal to the US .

• Traders will be closely watching Australia’s March Consumer Price Index (CPI) report, scheduled for release on Wednesday.

• Australian Consumer Price Index (CPI) figures will provide further insight about next week’s RBA decision.

• Immediate resistance is located at 1.8976 (SMA20), any close above will push the pair towards 1.9137 (38.2%fib).

• Immediate support is seen at 1.8747 (Lower BB) and break below could take the pair towards 1.8666(23.6%fib).

Recommendation: Good to sell around 1.8850 with stop loss of 1.9000 and target price of 1.8760

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.