GBPAUD bounced nicely off its support!

15 мая 2018 г.

GBPAUD bounced nicely off its support at 1.7909 (61.8%, 61.8% &50% Fibonacci retracement, horizontal overlap support) where a potentially bounce on weakness may happen, causing price to rise to its resistance at 1.8246 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.8047 (23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced nicely off its support at 2.9% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.