• GBP/AUD declined sharply on Tuesday as weak UK pay growth and hawkish comments from RBA weighed on the pair.
• The RBA left its door open to a November hike, as policymakers await the third quarter inflation report before the RBA's own revised economic forecasts are published.
• Data showed growth in British workers' regular pay - which is being watched closely by the Bank of England - slowed from a previous record high, with job vacancies also declining.
• Technical signals are bearish as RSI is at 46, daily momentum studies 5, 9 and 10 DMAs are trending south.
• Immediate resistance is located at 1.9214 (5DMA), any close above will push the pair towards 1.9257 (38.2%fib)
• Strong support is seen at 1.9121 (50%fib) and break below could take the pair towards 1.9051(5DMA).
Recommendation: Good to sell around 1.9150 , with stop loss of 1.9250 and target price of 1.9050
