Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD stuck in range, choppy price action persists


• GBP/AUD initially gained on Tuesday but lost some  ground  ahead of Wednesday's highly anticipated July U.S. CPI report.

• Forecasts for CPI are mixed, but focus is on too-high core rates.Another 75bp Fed hike is favored before smaller hikes thereafter.

• Technical signals are mixed as RSI is rising from low, daily momentum studies  5,11 and 14 DMAs are trending down. 

• Immediate resistance is located at 1.7388 ( 14DMA), any close above will push the pair towards 1.7477 (38.2%  fib)

• Immediate support is seen at 1.7266 (23.6%  fib) and break below could take the pair towards 1.7240(Lower BB).

 Recommendation: Be on sidelines

  • Market Data
Close

Welcome to EconoTimes

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