The pair reached a historical support line at 114.851 on 7th may 20 and the same level was reached on 17th Apr 17 from which bounced back to 137.506.
The pair found ground at the level of 114.851 and buyers started entering. I expect the first resistance to be met at the level of 117.364 as a first stage and the rest of targets are highlighted on the chart. I...
On the monthly time frame the pair started a descending trend since Aug 2011 and on 1st Mar 20 the pair reached multi years low at .55101 and settled well above the lowest level reached on Oct 08, hence the pair started an uptrend from Mar 19 and our 4 targets are set on the chart.
The pair has been on rise until it hit the resistance level at 1.6535 and wasn't able to pass, then a retracement has started almost hitting the support line at 1.6332. If that level managed to hold then it another possible long to form a double top, which if broken takes us to 1.6570. Failure to hold above 1.6332 then its a short entry and our target is...
The pair fallen to multi years low on 19th Mar 20 and started a uptrend that currently touching the upper line of the descending trend that started from 31st Dec 19. If the pair broke the upper line it’s a confirmation of the move higher and we expect the first target at .63423 and any further close above that level will take us to .67340
Disclaimer: The above is...
GBP/AUD was on the back foot for quite long and rebounded some 200 points in the last week but resumed falling again today in a correction mood. Tomorrow news about easing restriction should push the pair higher.
The above is my personal point of view for the market and any risk depends on your decision.
The pair has retraced from 2.09926 reaching 2.02859. The descending trend line has been broken and was tested twice to be proved as a strong support line if broken the will take us to 2.03, but more likely it will hold the rate from collapsing and will shoot up to 2.1000.
It's a personal points of view for the market and any risk will depend on your decision.
