For AUD investors the spotlight will no doubt be on the Reserve Bank of Australia’s latest rate decision.
No policy changes are expected this week, but will the bank offer any insight into this future stimulus plans?
GBP AUD charts
MONTHLY show this pair has two targets. The first target is at 1.87870 – 656 pips above the current position; the second target is at 1.96780 – 1525 pips up from the current position. The rsi and cmo are below the sell zone and headed there indicating more up movement to come from this pair.
WEEKLY shows this pair has one target at 1.79773 – 171 pips above the current position. The rsi and cmo are in the middle and headed down to the buy zone.
DAILY shows there is one target at 1.79085 – 244 pips below the current position. The rsi is in the buy zone and appears ready to start moving up toward the sell zone.
GBP AUD in the media
Both currencies (GBP and AUD) are also likely to remain highly sensitive to any coronavirus headlines this week, with concerns over the second wave of infections in Australia potentially infusing volatility into the pairing, according to TOR FX. (Updated on the 6th of July 2020)
The risk sensitive Australian Dollar is moving lower versus the Pound, extending losses from the previous week. The Aussie Dollar lost 0.5% versus sterling last week, its first losing week in 5.
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