Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD stuck in range, choppy price action persists

• GBP/AUD initially gained on Friday but lost some  ground after British retail sales data painted a gloomy picture of UK consumers.

• British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy.

• Technical signals are mixed as RSI turned bearish   at 48, daily momentum studies  5 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9256 ( 23.6%fib), any close above will push the pair towards 1.9318(14th Nov)

•  Immediate support is seen at 1.9140(11DMA) and break below could take the pair towards 1.9080 (38.2%fib B).

 Recommendation: Be on sidelines
 

  • Market Data
Close

Welcome to EconoTimes

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