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10 Jan 2014
GBP/AUD made a test step below 1.8500
FXstreet.com (Moscow) - GBP/AUD is under selling pressure on Friday morning as the cross opened the day at 1.8522 and attempted the move below 1.8500 (the intraday low is 1.8492)
GBP/AUD is under pressure, but the bulls still have hope
The cross is driven mainly by the technical factors and general market sentiment. In the intraday scale it is consolidating within a range with the floor right at 1.8500. Once it is broken the cross might accelerate the downside to the 1.8485. From the fundamental perspective the risk event for GBP/AUD is related to UK macro statistic. We have the industrial production report today. It is expected that the output grew 3.0% y/y in November against 3.2% in October. The GBP will gain support across the board if the data come out better than expected. GBP/AUD might attempt to its resistance at 1.8570. But be aware that market reactions might be mired by the positioning before the US labor market data published later today.
What are today’s key GBP/AUD levels?
Today's central pivot point can be found at 1.8522, with support below at 1.8452, 1.8382 and 1.8312, with resistance above at 1.8592, 1.8662, and 1.8732. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.8455 and the daily 20EMA at 1.8348. Hourly RSI is neutral at 54.15.
GBP/AUD is under pressure, but the bulls still have hope
The cross is driven mainly by the technical factors and general market sentiment. In the intraday scale it is consolidating within a range with the floor right at 1.8500. Once it is broken the cross might accelerate the downside to the 1.8485. From the fundamental perspective the risk event for GBP/AUD is related to UK macro statistic. We have the industrial production report today. It is expected that the output grew 3.0% y/y in November against 3.2% in October. The GBP will gain support across the board if the data come out better than expected. GBP/AUD might attempt to its resistance at 1.8570. But be aware that market reactions might be mired by the positioning before the US labor market data published later today.
What are today’s key GBP/AUD levels?
Today's central pivot point can be found at 1.8522, with support below at 1.8452, 1.8382 and 1.8312, with resistance above at 1.8592, 1.8662, and 1.8732. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.8455 and the daily 20EMA at 1.8348. Hourly RSI is neutral at 54.15.