Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD extends gains, faces 23.6% fib resistance

•  GBP/AUD strengthened on Wednesday as sterling attracted buyers amid reports that BoE could extend emergency bond buying.

• The pair hit highest level since October 4th, it was last  up 1.16% on the day at 1.7674 .

• Technical signals are bullish as RSI is   at 65  , daily momentum studies  5, 9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.7697 (23.6%fib), any close above will push the pair towards 1.7812 (Higher BB).

• Strong support is seen at 1.7506 (5DMA) and break below could take the pair towards 1.7445 (38.2%fib).

Recommendation: Good to buy  around 1.7670, with stop loss of 1.7500 and target price of 1.7780
 

  • Market Data
Close

Welcome to EconoTimes

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