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21 May 2014
GBP/AUD riding poor data from Australia
FXStreet (Barcelona) - GBP/AUD is trading at 1.8261, up 0.24% on the day, having posted a daily high at 1.8270 and low at 1.8212
GBP/AUD is ticking higher on the release of poor data for the AUD. Westpac consumer confidence was much lower than previous in May at -6.8% vs 0.3% last. Meanwhile, however, The FXStreet OB/OS Index is reflecting extremely overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. Hourly RSI is at 83.52, up from the last hourly print at 79.70, with ADX at 46.79, up from its previous close at 44.21. There is still room on the daily chart for higher levels according to the daily RSI sits at 60.42, in neutral territory.
GBP/AUD Levels
Current price is 1.8262, with resistance ahead at 1.8270 (Daily High), 1.8292 (Daily Classic R1), 1.8296 (Daily 100 SMA), 1.8321 (Weekly Classic R3) and 1.8367 (Daily Classic R2). Next support to the downside can be found at 1.8226 (Yesterday's High), 1.8219 (Daily Open), 1.8216 (Monthly High), 1.8212 (Daily Low) and 1.8198 (Weekly Classic R2).
GBP/AUD is ticking higher on the release of poor data for the AUD. Westpac consumer confidence was much lower than previous in May at -6.8% vs 0.3% last. Meanwhile, however, The FXStreet OB/OS Index is reflecting extremely overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. Hourly RSI is at 83.52, up from the last hourly print at 79.70, with ADX at 46.79, up from its previous close at 44.21. There is still room on the daily chart for higher levels according to the daily RSI sits at 60.42, in neutral territory.
GBP/AUD Levels
Current price is 1.8262, with resistance ahead at 1.8270 (Daily High), 1.8292 (Daily Classic R1), 1.8296 (Daily 100 SMA), 1.8321 (Weekly Classic R3) and 1.8367 (Daily Classic R2). Next support to the downside can be found at 1.8226 (Yesterday's High), 1.8219 (Daily Open), 1.8216 (Monthly High), 1.8212 (Daily Low) and 1.8198 (Weekly Classic R2).