• GBP/AUD recovered ground on Tuesday, as the pair found support at 1.9515 (lower ascending trend line).
• Currently, the 1.9515 (lower ascending trend line) barrier is restricting lower move, will likely be a speed bump to bears.
• From a technical viewpoint, the moving averages are suggesting neutral setup, while the RSI is turning up at 42.
• On the upside, Immediate resistance is located at 1.9764 ( 50 DMA), any close above will push the pair towards 2.0003 ( 21 DMA).
• On the downside, strong support is seen at 1.9515 (Lower trendline) and break below could take the pair towards 1.9400 (Psychological level).
• Recommendation: Good to buy around 1.9550, with stop loss of 1.9450 and target price of 1.9950.
