Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD positions for another climb, eyes 1.8500 level

• GBP/AUD steadied on Friday  as   unexpected  rise UK Feb retail sales supported pound against weaker Australian dollar.

• Data showed British retail sales rebounded by 1.2% in February versus expectations of a rise of 0.2%.

• Technical signals are bullish as RSI is bullish  at 51, daily momentum studies  5 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.8401 (23.6%  fib), any close above will push the pair towards 1.8490 (Higher BB)

•  Immediate support is seen at 1.8366 (5DMA) and break below could take the pair towards 1.8211(38.2%fib).

 Recommendation: Good to buy around 1.8360, with stop loss of 1.6250  and target price of 1.8400
 

  • Market Data
Close

Welcome to EconoTimes

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