FX News

AUD/GBP Transfer:

The RBA paused its hiking run yesterday leaving the cash rate at 3.6%. This is the first time in 11 meetings going back to May last year the RBA have held policy steady. The decision was mostly “priced in” although we did see prices in the Australian Dollar (AUD), British Pound (GBP) fall lower to 0.5390 (1.8560) from 0.5455 (1.8330) levels post the release. A Feb 2022 low. Leading into Easter holidays there is not a lot on the calendar to come, we see more of the same and the AUD to stay under pressure.

Current Level: 0.5405 (1.8501)
Resistance: 0.5490 (1.9100)
Support: 0.5235 (1.8220)
Last Weeks Range: 0.5394-0.5449 (1.8351-1.8537)

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