UK Retail Sales depreciated the British Pound (GBP) late in the week against the Australian Dollar (AUD) reversing earlier gains made by the GBP after geopolitical tensions after Iran attacks on Israel. Coming off 1.9480 (0.5135) to close around 1.9270 (0.5190) the GBP extended losses to 1.9120 (0.5230) in early Tuesday trading. Equity markets and stable commodity levels have also supported the AUD, the S&P up over 1% in NY trading. On the docket this week is Aussie CPI q/q for March expected to print higher. Watch for a re-test of moves towards 0.5240 (1.9090).
Current Level: 1.9127
Resistance: 1.9530
Support: 1.9100
Last Weeks Range: 1.9200- 1.9480