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• GBP/AUD dipped on Tuesdays after data showed that Britain's jobless rate fell in the three months to February.
• Britain’s jobless rate fell in the three months to February, slipping further below the level it was at before the coronavirus pandemic, data showed.
• GBP/AUD put in a high at 1.7576 but failed to sustain those levels, slipping to a session low 1.7403 in US session.
• Technicals are favouring bearish sentiment as RSI is at 36 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.7462 (38.2% fib), any close above will push the pair towards 1.7550 (21 DMA)
• Support is seen at 1.7380 (April 7th low ) and break below could take the pair towards 1.7205 (23.6% fib).
Recommendation: Good to sell around 1.7430, with stop loss of 1.7550 and target price of 1.7360.
