GBP/AUD 2.4727
TRADING BELOW THE 6 MONTH BULL TRENDLINE
This pair finally breakdown from the 6 month Bull trendline, and still trading below the trendline, Daily BB, Daily RSI all suggesting further weakness lies in this pair. Now it hovering around the 38.2% fibo support of 2.5420-2.3682 which comes at 2.4756 sustaining bleow this it'll test the levels of 2.4551 and 2.4345. Considering RSI and BB still it'll trade with the upper larger trading band...The big resistence is at 2.5150. For any upward moment it need to cross the 2.4829 which is 100dma. sO 2.4660 is the recent bottom for this pair. If 2.4660 is taken off then we'll see more retrace in this pair.
TRADING BELOW THE 6 MONTH BULL TRENDLINE
This pair finally breakdown from the 6 month Bull trendline, and still trading below the trendline, Daily BB, Daily RSI all suggesting further weakness lies in this pair. Now it hovering around the 38.2% fibo support of 2.5420-2.3682 which comes at 2.4756 sustaining bleow this it'll test the levels of 2.4551 and 2.4345. Considering RSI and BB still it'll trade with the upper larger trading band...The big resistence is at 2.5150. For any upward moment it need to cross the 2.4829 which is 100dma. sO 2.4660 is the recent bottom for this pair. If 2.4660 is taken off then we'll see more retrace in this pair.
posted by Naveen Pantera at 9:26 PM
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