Bullish: GBP/AUD currently at 1.7370 in a range and headed north after a hard bounce. We are looking for a continuation to the ATR target at 1.7476 area with a further target the 0.786 Fibo @ 1.7492. We have convergence in play for continuation. Watch the USDX for directions.
The average daily true range (ATR) for the pair is 165 pips and its 180-day average is 171 pips per day. USDX is currently threatening UP.
