Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD indecision within ranges,watch for the breakout

• GBP/AUD initially firmed on Friday  but   gains faded as investors digested US jobs data.

• In an up-and-down session, the pair hit  high   at 1.9619 in early trading then dipped towards 1.9521 .  

• Technical signals are mixed  as RSI is trending lower , daily momentum studies  21,and 30 DMA are trending north. 

• Immediate resistance is located at 1.9688 (38.2%fib ), any close above will push the pair towards 1.9817  (Aug 16th high).

• Strong support is seen at 1.9491 (30DMA) and break below could take the pair towards 1.9470 (50%fib).

Recommendation: Good to buy around 1.9500 with stop loss of 1.9410  and target price of 1.9590.
 

  • Market Data
Close

Welcome to EconoTimes

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