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GBP/AUD intraday: below its lower Bollinger band
2024-02-09
984
Our pivot point is at 1.9412.
Our preference: the downside prevails as long as 1.9412 is resistance.
Alternative scenario: above 1.9412, look for 1.9455 and 1.9481.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9419 and 1.9421). Finally, the GBP/AUD is trading below its lower Bollinger band (standing at 1.9378).
Supports and resistances:
1.9481 **
1.9455 *
1.9412 **
1.9395
1.9371 last
1.9313
1.9287 **
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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