Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD stuck in range, choppy price action persists

• GBP/AUD initially gained on Friday but lost some ground  as investors were cautious on fallout from debt-laden China Evergrande.

• The pair’s recovery stalled after finding resistance at 1.8873  (38.2%fib). GBP/AUD recent recovery attempts have been limited.

• Technical signals are mixed as RSI is bullish at 51, daily momentum studies  5 and 9 DMA’s are trending lower.
 
• Immediate resistance is located at 1.8826( 5DMA), any close above will push the pair towards 1.8873  (38.2%fib)

• Support is seen at 1.8752(50%  fib) and break below could take the pair towards 1.8640 (61.8%fib).

Recommendation: Be on sidelines
 

  • Market Data
Close

Welcome to EconoTimes

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