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GBP/AUD intraday: as long as 1.9194 is resistance look for 1.9006

2023-10-04
745

Our pivot point is at 1.9194.

Our preference: as long as 1.9194 is resistance look for 1.9006.

Alternative scenario: the upside breakout of 1.9194, would call for 1.9260 and 1.9299.

Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands above its 20 period moving average (1.9137) but below its 50 period moving average (1.9148).

Supports and resistances:

1.9299 **

1.9260 *

1.9194 **

1.9169

1.9140 last

1.9045

1.9006 **

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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