FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(GBPUSD,AUDUSD and EURAUD)
FxWirePro: AUD/USD slumps lower to hit fresh 13-month low, USD strength ahead of NFP prompts fresh selling
FxWirePro:GBP/NZD recovery facing a steep rock, likely to falter
• GBP/ NZD initially dipped on Tuesday but pulled back most of the lost ground as markets awaited news from upcoming central bank meetings.
• The pair is holding near today's high, repeated failures to close above 1.9228 (38.2% fib)is bearish sign.
• A close below 23.6% fib, is likely to trigger a new bearish phase with potential for 1.9100.
• Technical signals are bearish as RSI is at 34, 5, 9, 11 DMAs are trending down.
• Immediate resistance is located at 1.9228 (38.2% fib), any close above will push the pair towards 1.9287(50%fib).
• Immediate support is seen at 1.9180 (Daily low) and break below could take the pair towards 1.9150 (23.6%fib).
Recommendation: Good sell around 1.9220, with stop loss of 1.9300 and target price of 1.9100