Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD extends gains, faces 23.6%fib resistance

• GBP/ AUD strengthened on Tuesday  as kiwi dollar weakened as equities, commodities fell as investors sought safer assets.

• Oil prices fell  on Tuesday, with the demand outlook pressured by coronavirus lockdowns in China and growing recession risks.

• The pair currently is approaching resistance at 23.6%fib. A break above 1.8128 would unmask 1.7900 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages are trending higher. 

• Immediate resistance is located at 1.7827( 23.6%fib), any close above will push the pair towards 1.7981 (Higher BB).

• Immediate support is seen at 1.7647(38.2%fib) and break below could take the pair towards 1.7579 (30DMA).

Recommendation: Good to buy around 1.7750, with stop loss of 1.7650 and target price of 1.7900
 

  • Market Data
Close

Welcome to EconoTimes

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