• GBP/ AUD strengthened on Thursday as Australian currency failed to draw support from a strong rebound in Australian employment data.
• Australian dipped despite data showing Australian employment blew past forecasts with a rise of 55,000 in October, though that was balanced by a rise in unemployment to 3.7%.
• Today’s rise has passed through the 38.2%fib and now eyes the 1.9300 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 54,while moving averages are trending higher.
• Immediate resistance is located at 1.9245( Nov 14th high), any close above will push the pair towards 1.9332(23.6%fib).
• Immediate support is seen at 1.9180 (38.2%fib) and break below could take the pair towards 1.9129 (5DMA).
Recommendation: Good to buy around 1.9210, with stop loss of 1.9100, and target price of 1.9280,
