• GBP/ AUD rose on Thursday after unexpectedly high U.S. CPI rekindled Fed rate-hike betting.
• The 7.3% increase in January CPI was the biggest since February 1982, pulling pair to 1.8937.
• The pair currently is approaching resistance at 1.8947( 38.2%fib). A break above 1.8947 would unmask 1.9050 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 54,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8947 ( 38.2%fib), any close above will push the pair towards 1.9051 (Feb 8th high).
• Immediate support is seen at 1.8908 (30DMA) and break below could take the pair towards 1.8827(50%fib).
Recommendation: Good to buy around 1.8930, with stop loss of 1.8800 and target price of 1.9050
