Wednesday, 13 April 2016

GBP/AUD Forex Technical Analysis for 13/4/2016

Technical Analysis

The primary trend of GBP/AUD is bearish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and is taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.9105 and support at the level of 0.8885. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

GBP/AUD

Market Indicators 

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.



Trading Strategy 

GBP/AUD is looking bullish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.