• GBP/ AUD gained past 1.9400 level on Friday as Australian dollar continued to weaken against pound as another unexpected rise in U.S. inflation reduced the likelihood of early interest rate cuts by the RBA .
• Markets reacted by paring the chance of a June easing from the Reserve Bank of Australia (RBA) to 40% from 50%.
• At GMT 17:53, the pair was trading up 0.18 percent at 1.9406 ,highest since 11th March.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 52,while moving averages are trending higher.
• Immediate resistance is located at 1.9442(23.6%fib), any close above will push the pair towards 1.9510 (Higher BB).
• Immediate support is seen at 1.9334(38.2%fib) and break below could take the pair towards 1.9272 (50%fib).
Recommendation: Good to buy around 1.9400, with stop loss of 1.9320 and target price of 1.9480
