• GBP /AUD strengthened on Tuesday as risk on vibe and increased expectation BoE wll keep rising interest rates higher boosted pound.
• The pair hit daily high at 1.9104 and was last trading at 1.9064.
• Technical signals indicate bullish momentum, as RSI is at 65, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9144 (38.2% fib), any close above will push the pair towards 1.9205 (Higher BB).
• Immediate support is seen at 1.9013(5DMA) and break below could take the pair towards 1.8881(50% fib).
Recommendation: Good to buy on dips around 1.9030, with stop loss of 1.8900, and target price of 1.9150.
