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2 Jan 2015
GBP/AUD trades below 1.91 handle
FXStreet (Mumbai) - The Australian dollar fell against the British pound in the early European morning, reaching a new four-day high at 1.9140 earlier in the day.
The GBP/AUD pair now trades at 1.9095 levels, up 0.25% on the day, having posted intraday low at 1.9036 levels. The Aussie slipped versus the sterling on weak Chinese PMI manufacturing data from the previous session. On the first day of 2015, Chinese PMI manufacturing activity decline to 50.1 in December reaching 18 months low. The reading supported worries that demand from China, Australia's top trading partner, for commodities may slow down. Moreover, the Reserve Bank of Australia (RBA) commodity index for December showed another slump year-over-year. The Aussie is a commodity-based currency is sensitive to metal prices.
The AUD/USD pair trades now at 0.8141, down -0.47% on the day, while GBP/USD trades at 1.5547, down -0.20%.
GBP/AUD Technical Levels
The pair has an immediate resistance at 1.9140 (Today’s High) levels, above which gains could be extended to 1.9190 (Dec 29 High) levels. On the flip side, support is seen at 1.9027 (Dec 29 Low) levels, from here it to 1.8982 (Jan 1 Low) levels.
The GBP/AUD pair now trades at 1.9095 levels, up 0.25% on the day, having posted intraday low at 1.9036 levels. The Aussie slipped versus the sterling on weak Chinese PMI manufacturing data from the previous session. On the first day of 2015, Chinese PMI manufacturing activity decline to 50.1 in December reaching 18 months low. The reading supported worries that demand from China, Australia's top trading partner, for commodities may slow down. Moreover, the Reserve Bank of Australia (RBA) commodity index for December showed another slump year-over-year. The Aussie is a commodity-based currency is sensitive to metal prices.
The AUD/USD pair trades now at 0.8141, down -0.47% on the day, while GBP/USD trades at 1.5547, down -0.20%.
GBP/AUD Technical Levels
The pair has an immediate resistance at 1.9140 (Today’s High) levels, above which gains could be extended to 1.9190 (Dec 29 High) levels. On the flip side, support is seen at 1.9027 (Dec 29 Low) levels, from here it to 1.8982 (Jan 1 Low) levels.