Free Trial

AUD/GBP: Supported At £0.52

AUD

After a recovery from cycle lows last week was capped at the 20-Day EMA, AUD/GBP was supported at £0.52 handle as weaker than forecast Chinese GDP weighed on the AUD. Improving risk sentiment in yesterday's NY session aided a recovery off session lows.

  • The pair is little changed thus far today and prints at £0.5210/15 and sits ~1% below Thursday's post US-CPI high.
  • On the downside bears first look to break cycle lows at £0.5156, this opens the £0.50 handle and the March 2020 low at £0.4795.
  • Bulls look to first break the 20-Day EMA (£0.5241). From here they can target the high from 23 June (£0.5309), then the high from 20 June (£0.5359) and the 200-Day EMA (£0.5453).

To read the full story

Close

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.