6 Sep 2013
GBP/AUD settling above 1.70 ahead of Australian elections tomorrow
FXstreet.com (Barcelona) - The GBP/AUD foreign exchange cross rate is last quoted at 1.7080 unchanged since NY close, down -1.83% for the week so far mostly on the back of Aussie strength ahead of tomorrow's Australian elections.
GBP/AUD momentum studies heading lower
According to IFRMarkets analyst Andrew Spencer: “Momentum studies head lower - ma's & Bolli's cresting. Price poised above 1.6968 support - 38.2% of Jul/Aug rise. 1.6965 break would targets 1.6810/20 - 50% & lower Bolli.” In the short term charts the cross has built a double low at 1.6996 with the neck at recent session lows 1.7060, so far capped to the upside below late London session highs and 38.2% Fibo retrace of latest down leg at around 1.7155/65.
GBP/AUD key technical levels
Immediate support to the downside for GBP/AUD lies at recent session lows 1.7060, followed by mentioned double low at 1.6996, and August 19 lows at 1.6929. To the upside, closest resistance shows at recent session highs 1.7104, followed by Tuesday's lows 1.7121, and mentioned London session highs at 1.7157.
GBP/AUD momentum studies heading lower
According to IFRMarkets analyst Andrew Spencer: “Momentum studies head lower - ma's & Bolli's cresting. Price poised above 1.6968 support - 38.2% of Jul/Aug rise. 1.6965 break would targets 1.6810/20 - 50% & lower Bolli.” In the short term charts the cross has built a double low at 1.6996 with the neck at recent session lows 1.7060, so far capped to the upside below late London session highs and 38.2% Fibo retrace of latest down leg at around 1.7155/65.
GBP/AUD key technical levels
Immediate support to the downside for GBP/AUD lies at recent session lows 1.7060, followed by mentioned double low at 1.6996, and August 19 lows at 1.6929. To the upside, closest resistance shows at recent session highs 1.7104, followed by Tuesday's lows 1.7121, and mentioned London session highs at 1.7157.