• GBP/AUD held near 1.7900 level on Tuesday but gains were limited as market remained tight ahead of Wed's FOMC minutes
• Investors will be awaiting minutes from the Fed's November meeting, due on Wednesday, for any hints about the outlook for interest rates.
•The pair is approaching to testing resistance 1.7909 (23.6% fib), a daily close below will accelerate upside towards 1.8000 (Psychological level ).
• Technicals are favouring bullish sentiment as RSI is at 58 and the pair is trading above 5, 9 & 11-DMAs.
• Immediate resistance is located at 1.7944 (23.6% fib), any close above will push the pair towards 1.8070(Higher BB)
• Support is seen at 1.7672 (9DMA)and break below could take the pair towards 1.7565(38.2% fib).
Recommendation: Good to buy around 1.7880, with stop loss of 1.7700 and target price of 1.8070.
