Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD sustains gains as uptrend remains strong

• GBP/AUD strengthened on Wednesday  as Australian dollar continued  fall following Tuesday’s  dovish rate hike by RBA.

• The  RBA  on Tuesday raised interest rates to a 12-year high, ending four months of steady policy, but watered down its tightening bias to make it more conditional on incoming data.

• At GMT 17:12, the pair was trading 0.26% higher at 1.9157 after rebounding from level 1.9046. 

• Technical signals are bullish as RSI is at 51, daily momentum studies  5,9,21 DMA are trending north. 

• Immediate resistance is located at 1.9166 (38.2%fib ), any close above will push the pair towards 1.9247  (April 2nd high).

• Strong support is seen at 1.9124 (14DMA) and break below could take the pair towards 1.9099 (50%fib).

Recommendation: Good to buy on dips around 1.9140  with stop loss of 1.9050   and target price of 1.9200 
 

  • Market Data
Close

Welcome to EconoTimes

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