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AUD/GBP: Breaks £0.52 Handle

AUD

AUD/GBP extended yesterday's post-RBA losses through the European and NY session as risk-off flows weighed, falling ~1.1% on Tuesday. The cross breached the £0.52 handle and sits at its lowest level since 12 July.

  • Losses have marginally extended in early dealing this morning and AUD/GBP sits at £0.5170/75.
  • Bears now target cycle lows at £0.5156, which opens the £0.50 handle and the March 2020 low at £0.4795.
  • On the upside bulls look to first reclaim the £0.52 handle, the 20-Day EMA comes in at £0.5226. A break through here opens the high from 20 July (£0.5304).

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