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- GBP/AUD has made a high of 2.170 and started to retreat till 2.1340 from that level. Overall trend is bearish as long as resistance 2.1750 holds.
- RBA left interest rates unchanged yesterday. Australian data released today was in line with consensus. Australian retail sales rose 0.4% in line with estimates.
- The break of major resistance 2.1750 will take the pair till 2.20/2.2220
- The pair's major support is around 2.130 and break below targets 2.080/2.0500
- Further weakness only below 2.080.
It is good to sell on rallies around 2.150 with SL around 2.175 for the TP of 2.100/2.080
