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.

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GBP/USD Technical Analysis and Trading Strategy for Tuesday, March 24 2015

GBP/USD

SUMMARY:

The trend of GBP/USD is majorly bearish but from past few trading sessions prices are not sustaining at lower levels & consolidating near the important level of 1.4990. In its hourly chart, prices are consolidating with strong positive bias and taking support of 30 and 200 DMA. If the pair breaks the important level of 1.4990 at upside then we can expect it to test the level of 1.5040/1.5090.

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INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.

MACD line is also sustaining in buying territory indicating the bullish trend in the pair.

STRATEGY:- GBP/USD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

FX currencies down today

Forex markets are confusing traders today, as all the major currencies declined on domestic cues, mixing forex pair value on Tuesday.


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In United States of America, data records of growth in factories, utilities and mining sector lost 0.1 percent in last month, posting a falling trend after surging at 0.2 percent in July.

Among other sectors, Manufacturers fell by 0.4 percent extending losses, with auto producers losing 7.6 percent in August. With all the major sectors reporting losses, US consolidating currency representing trades weakened its level, after trading at the highest peg in last 14 months.

US currency reported lower by 0.1 percent trading at 107.19 against Japanese Yen after trading higher at 107.39. USD/JPY at 107.39 is the highest record hit by the forex pair in last 6 years.

Euro fell in the basket of currencies as well, as it slipped 0.2 percent over dollars, reporting the pairing of EUR/USD at 1.2938. The trading kept in view flat level of USD among other currencies basket at 84.240.

In forex pair EUR/JPY traded lower at 138.70 shedding 0.3 percent in the trades today.

The Australian dollar's slipped 3.6 percent in September citing hike in interest rates from Reserve bank to revive the economy, placing AUD back up on the trading plate.

Meanwhile data showed a deep connection between China and Australia, its largest trading partner, is likely to miss its 2014 growth target, which is the prime reason behind lowering Aussie. AUD is trading at lowest point in 6-months at 89.85 cents as per records on Monday.