• GBP/ AUD eased on Thursday following the release of PCE data, keeping the pair within its recent trading ranges.
• The pair is holding above 1.9400 level and has managed to stay above 38.2%fib resistence .
• The next key data releases include UK retail sales on March 4 and a series of US employment data from March 6 to March 8, covering JOLTS, initial jobless claims, and non-farm payrolls.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 ,while moving averages are trending higher.
• Immediate resistance is located at 1.9490(23.6%fib), any close above will push the pair towards 1.9526 (Higher BB).
• Immediate support is seen at 1.9412 (Daily low) and break below could take the pair towards 1.9328(38.2%fib).
Recommendation: Good to buy around 1.9370, with stop loss of 1.9300 and target price of 1.9480
