Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD bullish outlook with scope to target 1.8300

• GBP/AUD extended its yesterday’s gain on Tuesday  as investors bought pound on optimistic that a Brexit deal could be reached this week.

• The pair reaches 1.8247 after extending north from 1.8112 (Daily low). 1.8262 is the highest level since 24th Nov.

• Any downside correction is likely to be temporary as barrier at 1.8112 (100 DMA) is set to restricting lower move.

• Technical signals are bullish as RSI is at 54, daily momentum studies  5, 9,11 DMA  are trending up. 

• On the upside, Immediate resistance is located at 1.9839 ( 38.2%fib), any close above will push the pair towards 1.8239 ( 24th Nov high).

• On the downside, strong support is seen at 1.8205 (30 DMA) and break below could take the pair towards 1.8123 (5 DMA).

 Recommendation: Good to buy around 1.8220, with stop loss of 1.8100 and target price of 1.8300.


 

  • Market Data
Close

Welcome to EconoTimes

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