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AUD/GBP: Supported Ahead Of £0.52, Recent Ranges Persisting

AUD

AUD/GBP extended its post Australia CPI losses in the European session yesterday, support came in ahead of £0.52 and losses were marginally pared.

  • The pair fell ~0.8% yesterday and last prints at £0.5225/30 sitting marginally firmer in early dealing on Thursday.
  • For the most part a £0.52/53 range has persisted in July, the pair has been unable to sustain any breaks of the range.
  • Bears first look to break yesterday's low £0.5212. This opens cycle lows at £0.5156, the £0.50 handle and the March 2020 low at £0.4795.
  • On the upside bulls target a break of the high from 23 June (£0.5309), which opens the high from 20 June (£0.5359) and the 200-Day EMA (£0.5439).
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