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GBP/AUD intraday: as long as 1.8772 is support look for 1.8904

2024-01-03
1138

Our pivot point is at 1.8772.

Our preference: as long as 1.8772 is support look for 1.8904.

Alternative scenario: the downside breakout of 1.8772 would call for 1.8725 and 1.8696.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.8780 and 1.8718).

Supports and resistances:

1.8962 **

1.8933 *

1.8904 **

1.8876

1.8818 last

1.8791

1.8772 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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