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• GBP/ AUD strengthened on Tuesday after data showed British wages grew at a record pace in the second quarter.
• Wages excluding bonuses were 7.8% higher than a year earlier in the three months to June, the Office for National Statistics said.
• Bulls are likely to mount a credible run towards 1.9750 level. At GMT 17:31 the pair was last trading at 1.9666 up 0.56 percent.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9675(23.6%fib), any close above will push the pair towards 1.9717(Higher BB).
• Immediate support is seen at 1.9521( 38.2%fib) and break below could take the pair towards 1.9465 (5DMA).
Recommendation: Good to buy around 1.9660, with stop loss of 1.9540and target price of 1.9740
