By Anton Eljwizat
This pair’s sustained upward movement has finally pushed its price into the over-bought territory on the daily chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.
• The next resistance levels are found at the 0.8345, 0.8375 and 0.8405 levels.
• The next support levels are 1.5750, 1.5725 and 1.5690 levels.
GBP/AUD Daily Chart
Forex Market Analysis provided by ForexYard.
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