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• GBP /AUD strengthened on Tuesday as markets gyrated following a policy tweak by the Bank of Japan.
• The pair hit daily high at 1.8278 and was last trading at 18233 .
• The pairs rise above the 1.8186 (5DMA) has reinforced the growing bullish strength, putting focus on resistance at 1.8300.
• Immediate resistance is located at 1.8300 (23.6% fib), any close above will push the pair towards 1.8316 (Higher BB).
• Immediate support is seen at 1.8186 (5DMA) and break below could take the pair towards 1.8044 (38.2%fib).
Recommendation: Good to buy on dips around 1.8220, with stop loss of 1.8150 and target price of 1.8300
