FX News

AUD/GBP Transfer:

British Pound (GBP) strength has overwhelmed the Australian Dollar (AUD) in recent weeks, coming off the early Feb’s 1.7250 (0.5800) to today’s 1.7900 (0.5585). It’s been all about recent data risk supporting the GBP. A retest of January’s 0.5570 (1.7960) is the next target then 0.5475 (1.8270) the February 2022 low. Aussie CPI January is the key release this week with predictions of 7.9-8.0% a rise from the current 7.8% y/y which in turn send the AUD currency higher reversing recent moves.

Current Level: 0.5585 (1.7905)
Resistance: 0.5675 (1.8000)
Support: 0.5555 (1.7620)
Last Weeks Range: 0.5623-0.5751 (1.7386-1.7781)

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