Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD capped by 5EMA, good to sell on rallies

• GBP/AUD strengthened on Friday as  quick carry out of COVID-19 vaccinations  across Britain and   waning assumptions for negative interest rates in UK supported sterling .

• GBP/AUD  rallies off from 1.7742 (Daily low), lift stops after finding resistance at 1.7879 (5EMA).

• GBP/AUD remains vulnerable, bulls must regain above the Ichimoku cloud top to stem the bearish tide and a rise above 61.8%fib at 1.7943 to regain momentum.

• Technical are bearish, daily RSI is negative at 43, daily momentum studies 5 ,9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.7742 (5EMA ), any close above will push the pair towards 1.7933  (Ichimoku Cloud Top).

• Strong support is seen at 1.7766 (Ichimoku cloud base) and break below could take the pair towards 1.7739 (38.2%fib).

Recommendation: Good to sell on  around 1.7880, with stop loss of 1.7950 and target price of 1.7800
 

  • Market Data
Close

Welcome to EconoTimes

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