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AUD

Continues Slide

CROSS ASSET

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SGD

Lower For Third Session

RBA

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  • RES 4: 0.8701/21 High May 7 / High Apr 26 and the bull trigger
  • RES 3: 0.8672 High May 25
  • RES 2: 0.8670 High Jul 20 and 76.4% of the Apr - Jul bearish phase
  • RES 1: 0.8592 50-day EMA
  • PRICE: 0.8550 @ 16:55 BST Jul 23
  • SUP 1: 0.8541 Low Jul 23
  • SUP 2: 0.8504 Low Jul 14 and key short-term support
  • SUP 3: 0.8484/72 1% 10-dma envelope / Low Apr 5
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP traded lower in the second half of the week, extending the reversal from the Jul 20 high. The sharp move lower puts on hold a recent bullish focus and instead attention turns to support at 0.8504, the Jul 14 low and a near-term bear trigger. A break of this support would reinstate a bearish theme and open 0.8472, the Apr 5 low. On the upside, key resistance has been defined at 0.8670, the Jul 20 high.