• GBP/AUD steadied on Thursday as investors placed bets on riskier assets as minutes from the last Federal Reserve meeting raised the prospect of slower U.S. interest rate hikes.
• At GMT 17:57, the pair was trading 0.06% higher at 1.7916, after hitting daily high at 1.7875.
• Today’s rise has passed through the 5DMA at 1.7876 and now eyes the 1.8064 (23.6%fib).
• Technical signals are bullish as RSI is is 59 , daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8064 (23.6%fib), any close above will push the pair towards 1.8156 (Higher BB).
• Strong support is seen at 1.7876(5DMA) and break below could take the pair towards 1.7782 (38.2%fib).
Recommendation: Good to buy around 1.7900, with stop loss of 1.7800 and target price of 1.7970
