GBP/AUD breaks strong resistance at 1.8640, good to long dips Long

British Pound/Australian DollarFXCM

Description

⋅ 26 avr. 2016 07:29

GBP/AUD extends upside after breaking strong trendline resistance at 1.8640.

Technical indicators suggest further upside in the pair.

RSI strength seen at 54, Stochs and MACD are biased north.

We see a bullish crossover of 5-DMA over 10-DMA.

Immediate support and resistance are located at 1.1828 (5-DMA) and 0.8850 (March 25th highs).

Good to buy dips around 1.8770, SL: 0.8675, TP: 1.8850/1.8890/1.89

Trade fermée: cible de profit atteinte

⋅ 27 avr. 2016 07:24

We see major hurdle at 1.9250 levels which is 23.6% Fib of 2.2372 to 1.8293 fall. Further upside only on breaks above.

Momentum studies on weeklies are neutral. We recommend booking full profits for now.

Commentaires

FxWirePro

⋅ 26 avr. 2016 07:52

SL : 1.8675 not 0.8675

FxWirePro

⋅ 26 avr. 2016 07:52

correction: 5-DMA support is at 1.8620 and resistance is at 1.8850 (March 25th highs)

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