The Australian Dollar Takes Charge As The Pound Weakens

• 3 Apr 2018

GBP/AUD

The GBP/AUD pair is testing the high price SMA which may be a signal that sentiment is turning bearish. Selling momentum is confirmed by both RSI and MACD, as RSI moves away from overbought conditions. MACD appears to be amidst a momentum reversal.

GBP/CHF

The GBP/CHF pair is reaching a market top at the 1.344 price level. According to momentum indicators, the pair has further upside potential as both remain in bullish territory, with RSI beginning an upward trajectory.

AUD/NZD

A series of doji candlesticks represent indecision in the pair with inverted hammer candlesticks suggesting the recent downtrend may reverse. RSI is rising from a previous oversold position. Dropping volume indicates that buyers are yet to dominate the pair and push prices higher.

GBP/NZD

An inverted hammer candlestick resting on the 1.940 price level could indicate that the Pound will come under pressure, with the beginning of a shooting star formation. A break of this price level would confirm the bearish move. Momentum indicators support the bearish sentiment with both presenting with downward trajectories.