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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUD
The pair now sits ~1.3% above cycle lows which were printed early last week, and has broken and held above £0.54 handle.
- The recovery has been capped at the 20-Day EMA in recent dealing, AUD/GBP has been unable to sustain a break of the resistance point.
- The downtrend for the pair remains in place. Bears target a break of cycle lows at £0.5347 which opens 2022 low at £0.5202.
- Bulls look to close above the 20-Day EMA (£0.5420), from here they can target April 3 high at £0.5480.
- Today's UK inflation print is the next risk event for the pair. The annual headline rate is expected to moderate to 9.8% from 10.4% and the core print is expected at 6.0%.
Fig 1: AUD/GBP Daily Spot, EMAs
Source: MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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