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AUD/GBP: Rises Above 20-Day EMA

AUD
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AUD/GBP firmed ~0.3% yesterday as risk sentiment improved yesterday, the cross breached the 20-Day EMA (£0.5226).

  • In early trade on Tuesday we sit at £0.5245/50.
  • Bulls now target the 200-Day EMA (£0.5297), a break through here opens the £0.54 handle and £0.5480, high from 3 Apr.
  • On the downside bears immediate focus is on the 20-Day EMA, from here they can target the low from 14 Sep (£0.5139), the low from 5 Sep (£0.5063) and cycle lows (£0.5007).
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AUD/GBP firmed ~0.3% yesterday as risk sentiment improved yesterday, the cross breached the 20-Day EMA (£0.5226).

  • In early trade on Tuesday we sit at £0.5245/50.
  • Bulls now target the 200-Day EMA (£0.5297), a break through here opens the £0.54 handle and £0.5480, high from 3 Apr.
  • On the downside bears immediate focus is on the 20-Day EMA, from here they can target the low from 14 Sep (£0.5139), the low from 5 Sep (£0.5063) and cycle lows (£0.5007).