Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD strongly bearish despite upside attempts

• GBP/AUD hits 1.7533 rallying off from 1.7444 (intra-day low), pair is unable to hold further gains as traders keep focus on lower UK rates.

• GBP/AUD remains vulnerable, only a break and daily close above 1.7744 (61.8% fib) will shift bias to the upside.

• Technical are bearish, daily RSI is negative at 37, daily momentum studies 14  and 21 DMAs are trending down. 

• Immediate resistance is located at 1.7552 (38.2%fib ), any close above will push the pair towards 1.8519 (9DMA).

• Strong support is seen at 1.7444 (38.2%fib) and break below could take the pair towards 1.7400 (Psychological level).

Recommendation: Good to sell on  around 1.7550, with stop loss of 1.7700 and target price of 1.7450

  • Market Data
Close

Welcome to EconoTimes

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