25 Jul 2013
GBP/AUD testing 3-week highs area above 1.6750
FXstreet.com (Barcelona) - The GBP/AUD foreign exchange cross rate is last trading at fresh session highs 1.6753, taking advantage of massive Aussie weakness following yesterday's worse than expected China PMI data.
GBP/AUD higher on massive Aussie weakness
The cross is currently heading to recent fresh 3-week highs at 1.6780 printed in mid NY session on the back of Aussie weakness, that reached a fresh weekly low at 0.9132 against the USD following better than expected US new home sales data. GBP/AUD is up +7.27% year to date, and +12.87% in last 3 months.
GBP/AUD key technical levels
Immediate resistance to the upside for GBP/AUD shows at recent session/July 12/NY highs 1.1670/80, followed by June 24 highs at 1.6787, and June 21 highs at 1.6875. To the downside, closest support lies at July 01 highs 1.6708, followed by June 11/Monday's highs at 1.6680 and July 18 highs at 1.6639.
GBP/AUD higher on massive Aussie weakness
The cross is currently heading to recent fresh 3-week highs at 1.6780 printed in mid NY session on the back of Aussie weakness, that reached a fresh weekly low at 0.9132 against the USD following better than expected US new home sales data. GBP/AUD is up +7.27% year to date, and +12.87% in last 3 months.
GBP/AUD key technical levels
Immediate resistance to the upside for GBP/AUD shows at recent session/July 12/NY highs 1.1670/80, followed by June 24 highs at 1.6787, and June 21 highs at 1.6875. To the downside, closest support lies at July 01 highs 1.6708, followed by June 11/Monday's highs at 1.6680 and July 18 highs at 1.6639.