• GBP/ AUD rose higher on Friday as upbeat British retail sales boosted the pair .
• British retail sales unexpectedly rose in May, boosted by an extra bank holiday to mark the coronation of King Charles.
• A daily close above 1.9098 (23.6%fib)will further improve the technical outlook, and open the possibility of a rally towards 1.9200 level.
• Technical signals are bullish as RSI is at 62,while moving averages and MACD are trending lower.
• Immediate resistance is located at 1.9098 (23.6%fib), any close above will push the pair towards 1.9165 (Jun 1st high).
• Immediate support is seen at 1.8829 (5DMA) and break below could take the pair towards 1.8792 (38.2%fib).
Recommendation: Good to buy around 1.8990, with stop loss of 1.8900 and target price of 1.9090
