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• GBP/ AUD rose sharply on Tuesday as Australian dollar weakened across the board after RBA held its super-loose policy on hold.
•Australia's central bank left its key rates at near zero for a fifth straight meeting on Tuesday and pledged to keep policy super loose for a prolonged period.
• The pair currently is approaching resistance at 1.8066( 38.2%fib). A break above 1.8066 would unmask 1.8100 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8066( 38.2%fib), any close above will push the pair towards 1.8112 (Higher BB).
• Immediate support is seen at 1.8000 (50%fib) and break below could take the pair towards 1.7941(61.8%fib).
Recommendation: Good to buy around 1.8020, with stop loss of 1.7920 and target price of 1.8100
