Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD neutral in the near-term, scope for downward resumption

• GBP/AUD recovered some ground on Friday after strong non-farm payrolls but gains were limited as investors awaited new catalyst to emerge.

• GBP/AUD pair recovered slightly. It was up 0.12% at 1.7322.

• GBP/AUD remains vulnerable, only a break and daily close above ichimoku cloud base at 1.7603 will shift bias to the upside.

• Technical signals are bearish as RSI is at 45, daily momentum studies  5 and 11 DMAs are trending down.  

• Immediate resistance is located at 1.7425 (5 DMA ), any close above will push the pair towards 1.7538 (38.2% fib).

• Strong support is seen at 1.7272 (23.6% fib) and break below could take the pair towards 1.7183 (May 5th low).

Recommendation: Good to sell on  around 1.7330, with stop loss of 1.7430 and target price of 1.7250
 

  • Market Data
Close

Welcome to EconoTimes

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