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4 Oct 2013
GBP/AUD succumbing to weekly lows; below EMA20 at 1.7141
FXstreet.com (Chicago) - GBP/AUD prints lower highs and lows falling to 1.7142 session depths, also weekly lows and Aussie’s strengthening.
Rumors spread on potential relationship between Aussie’s strengthening and the Westpac’s latest reports indicating a potential recovery is gaining momentum.
GBP/AUD Technical Levels
Price action reveals the pair maintains 3-year altitudes above the 1.7140 zone but gives in pips on Aussie’s strengthening across the board. The pound remains strong backed up by positive data releases. Offered at 1.7143, the pair oscillates between supports aligned at 1.7096 (September 26th lows), 1.7075 (September 25th lows), 1.7045 (September 24th lows) and resistances set at 1.7182 (September 25th highs), 1.72 (October 1st lows) followed by 1.7227 (August 26th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Rumors spread on potential relationship between Aussie’s strengthening and the Westpac’s latest reports indicating a potential recovery is gaining momentum.
GBP/AUD Technical Levels
Price action reveals the pair maintains 3-year altitudes above the 1.7140 zone but gives in pips on Aussie’s strengthening across the board. The pound remains strong backed up by positive data releases. Offered at 1.7143, the pair oscillates between supports aligned at 1.7096 (September 26th lows), 1.7075 (September 25th lows), 1.7045 (September 24th lows) and resistances set at 1.7182 (September 25th highs), 1.72 (October 1st lows) followed by 1.7227 (August 26th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.