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AUD/GBP: Ticks Below £0.52 Handle

AUD

AUD/GBP breached the £0.52 handle yesterday and sits at its lowest level since late October as technical flows apply late pressure to the cross which fell beneath its 20-Day EMA last week (£0.5218).

  • In early dealing today we sit at £0.5190/95.
  • After holding below the 20-Day EMA bears now target the low from 14 Sep (£0.5139), the low from 5 Sep (£0.5063) and cycle lows (£0.5007).
  • Bulls immediate focus is on a break of the 20-Day EMA which opens the 200-Day EMA (£0.5301). From here they can target the £0.54 handle and £0.5480, high from 3 Apr.

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