Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD steadies above 1.8750 ,retains bid tone

• GBP/ AUD strengthened on Tuesday after data showed UK data showed pay growth remained strong by historical standards.

• Basic pay rose by 6.7% in the three months to March compared with the same period last year, up from 6.6% in the three months to February.

• A rally towards 1.8900 is   possible if  GBP/ AUD bulls overcome resistance at 23.6%fib.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages and MACD are trending higher.

• Immediate resistance is located at 1.8806( 23.6%fib), any close above will push the pair towards 1.8921(Higher BB).

• Immediate support is seen at 1.8691 (5DMA) and break below could take the pair towards 1.8569(38.2%fib).

Recommendation: Good to buy around 1.8740, with stop loss of 1.8680 and target price of 1.8900

  • Market Data
Close

Welcome to EconoTimes

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