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8 Oct 2013
GBP/AUD, above EMA20 printing 1.7084 session highs
FXstreet.com (Chicago) - GBP/AUD strengthened shortly after the release of better than expected Australian data after bouncing off from 1.7037 session lows at Tokyo’s opening.
GBP/AUD Technical Levels
Price action reveals the consolidation of the upward trendline that started last October 3rd after the pair hit 10-day lows. On potential reversal, the pair pulverizes two previous set resistances to print 1.7084 session highs despite better than expected Australian data that strengthened the Aussie. Offered at 1.7070, the pair navigates between supports aligned at 1.70 (September 24th lows) and 1.7050 (September 24th highs) and 1.6951 (September 11th lows) followed by the resistances set at 1.7113 (September 26th lows), 1.7150 (September 25th highs) ahead of 1.7180 (October 3rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
GBP/AUD Technical Levels
Price action reveals the consolidation of the upward trendline that started last October 3rd after the pair hit 10-day lows. On potential reversal, the pair pulverizes two previous set resistances to print 1.7084 session highs despite better than expected Australian data that strengthened the Aussie. Offered at 1.7070, the pair navigates between supports aligned at 1.70 (September 24th lows) and 1.7050 (September 24th highs) and 1.6951 (September 11th lows) followed by the resistances set at 1.7113 (September 26th lows), 1.7150 (September 25th highs) ahead of 1.7180 (October 3rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.