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AUD/GBP: Highest Since Mid-August, UK Employment On Tap

AUD

AUD/GBP consolidated its Asian gains yesterday dealing in narrow ranges through the remainder of Monday's trading. The cross finished ~0.5% higher, printing its highest close since 10 Aug.

  • In early trading on Tuesday AUD/GBP last prints at £0.5135/40.
  • After breaching the 20-Day EMA (£0.5113) bulls now target the high from 2 Aug (£0.5182), a break through here opens the high from 31 July (£0.5247). The 200-Day EMA comes in at £0.5346.
  • Bears immediate focus is on the 20-Day EMA, a break through here opens cycle lows (£0.5007), £0.4862 a Fibonacci projection and the March 2020 low at £0.4795.
  • The highlight of today's docket is the July UK Employment Rates, the headline unemployment rate is expected to tick higher to 4.3%.
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