• GBP/ AUD initially gained on Thursday but gains eased after US CPI, claims data.
• The U.S. consumer price index (CPI) rose 0.4% last month after climbing by the same margin in September
• The pair inability to hold gains above 1.7833 (50% fib), may increases the likelihood of a drop towards1.7550 level.
• Technical signals shows short-term trend is bearish as RSI is lower at 49, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.7685( 5DMA), any close above will push the pair towards 1.7833 (50% fib).
• Immediate support is seen at 1.7546 (38.2% fib) and break below could take the pair towards 1.7504 (Lower BB).
Recommendation: Good to sell around 1.7700, with stop loss of 1.7800 and target price of 1.7580
