• GBP/AUD initially dipped but recovered ground on Friday after soft US payrolls data hinted Fed policy shift is drawing near.
• The U.S. economy added fewer jobs than expected last month. However, solid wage gains and a drop in unemployment to 3.5% signaled continued tightness in the labor market. .
• Technical signals are bullish as RSI is at 60, daily momentum studies 5,10 ,21 DMA are trending up.
• Immediate resistance is located at 1.9444( 23.6%fib), any close above will push the pair towards 1.9490 ( Higher BB).
• Strong support is seen at 1.9339 (5DMA) and break below could take the pair towards 1.9245 (38.2%fib).
Recommendation: Good to buy around 1.9400, with stop loss of 1.9330 and target price of 1.9480
