FxWirePro: GBP/AUD finds stiff resistance at 110-EMA (1.7792), upside only on decisive break above

• GBP/AUD failed to extend weakness below 200-DMA, retraces higher to currently trade at 1.7792 levels.
   
• The pair was rejected at 110-EMA resistance at 1.7792 on Thursday's trade and the pair is currently hovering around 110-EMA.
   
• Decisive break above could se further upside, scope then for test of 100-DMA at 1.7928.
   
• Technical studies are biased higher. Momentum bullish with RSI strong and rising.
   
• We see immediate support at 21-EMA at 1.7699. Break below 200-DMA will negate bullish bias.

Support levels - 1.77, 1.7698 (21-EMA), 1.7676 (5-DMA)

Resistance levels - 1.7792 (110-EMA), 1.7835 (55-EMA), 1.7928 (100-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-GBP-AUD-rejected-at-session-highs-stay-short-on-break-below-daily-cloud-1317918) has hit all targets.

Recommendation: Watchout for break above 110-EMA for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at 106.83 (Bullish), while Hourly AUD Spot Index was at -114.33 (Bearish) at 0945 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.