• GBP/ AUD steadied around 1.9011 as above-forecast UK pay growth data supported pound .
• Data showed regular wages, excluding bonuses, grew by 6.0% in the first three months of 2024 compared with the same period a year earlier. Economists polled had forecast wage growth of 5.9%.
• At (GMT 17:33 )the pair was up at 0.08 percent at 1.9011 , having touched day low at 1.8951 earlier in the day.
• A rally towards 1.9100 is possible if GBP/ AUD bulls overcome resistance at 38.2%fib.
• Immediate resistance is located at 1.9043( 38.2%fib), any close above will push the pair towards 1.9093 (May 3rd high).
• Immediate support is seen at 1.8910 (23.6%fib) and break below could take the pair towards 1.8846 (Lower BB).
Recommendation: Good to buy around 1.9000, with stop loss of 1.8900 and target price of 1.9070
