Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD stuck in range but maintains bearish bias

• GBP/AUD initially declined on Tuesday but recovered some ground as investors geared up for a Fed meeting.

• GBP/AUD last traded at 1.7939, up 0.016% on the day, after briefly falling to 1.7873 earlier.

• Bulls will need a clear 1.8045 (50% fib) to take greater control, failure to break higher could lead to further downside.  

• Technical are bearish, daily RSI is negative at 49, daily momentum studies  5 and 9 DMAs are trending down. 

• Immediate resistance is located at 1.8056 (38.2%fib ), any close above will push the pair towards 1.8134 (Higher BB).

• Strong support is seen at 1.7862 (Daily low) and break below could take the pair towards 1.7799 (23.6%fib).

Recommendation: Good to sell on  around 1.7950, with stop loss of 1.8100 and target price of 1.7880


 

  • Market Data
Close

Welcome to EconoTimes

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