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Forex: GBP/AUD pushes below 1.5000

By FXstreet.com,  July 25, 2012, 10:50:00 PM EDT

FXstreet.com (San Francisco) - GBP/AUD has just dipped to new 4-month lows below the 1.5000 psychological figure in Asia, extending as low as 1.4994, a price not seen since March 20.

The move lower comes amid tolerance for risk as Asian bourses trade modestly higher this Thursday, driven by expectations that the Federal Reserve will announce QE3, and after news that Europe may take further steps to stem the region's crisis.

At present, the cross trades at session lows in the 1.4995 price zone vs. 1.5030 at the New York close.
Japan 225 last trades at 8392.50, up 26.60 points or 0.32%. Australia's S&P/ASX 200 is quoted up 14.85 points, or 0.36% to 4138.80. Hang Sen 40 has climbed 42.67 points, or 0.23% to 18920.00.

Support for GBP/AUD is noted at 1.4955 (25 Jan high), 1.4917 (16 Jan high) and 1.4856 (22 Feb high). Resistance is noted at 1.5025 (intraday) then 1.5083 (21-EMA, 4 hr).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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