GBP/AUD intraday: look for a drop towards 1.8263 before a bounce

Our pivot point is at 1.8263.

Our preference: look for a drop towards 1.8263 before a bounce.

Alternative scenario: below 1.8263, expect 1.8208 and 1.8175.

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 is trading above both its 20 and 50 period moving average (respectively at 1.8328 and 1.8313).

Supports and resistances:

1.8500 **

1.8467 *

1.8434 **

1.8402

1.8335 last

1.8285

1.8263 **

1.8208 *

1.8175 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.

Written on 03-22-2023 at 21:02 UTC+1

Price reference: 1.8335 last known on 03-22-2023 at 21:02 UTC+1

Investment horizon: INTRADAY