Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD range to extend until there is game changing news

• GBP/ AUD strengthened on Friday as concerns over the economic impact of Trump’s aggressive global trade tariffs weighed on the risk-sensitive Australian dollar.

•   The  Australian dollar also weakened as traders reassessed the RBA’s policy outlook after weaker-than-expected jobs data.

• Australia's government will release the federal budget on Tuesday, prioritizing cost-of-living relief ahead of the May election, with a return to deficit expected after two rare surpluses..

• February's monthly inflation data is set for release on Wednesday, with forecasts predicting a 2.5% annual increase.

• Immediate resistance is located at 2.0659(23.6%fib), any close above will push the pair towards 2.0765(Higher BB ).

• Immediate support is seen at 2.0484( 38.2%fib) and break below could take the pair towards 2.0346(( 50%fib).

Recommendation: Good to buy around 2.0550, with stop loss of 2.0430 and target price of 2.0750

FastComments.com
  • Market Data
Close

Welcome to EconoTimes

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