GBP/AUD

The Pound lost ground to the Aussie on Wednesday after the government promised more infrastructure spending in their annual budget

 A major recent feature of the markets has been the steep decline in commodity prices and a knock-on effect on commodity currencies.

The Pound to Australian Dollar has had a strong run higher in the previous week as falling commodity prices hit the outlook for the Australian economy. we now note some signs of a potential overbought scenario in the pair.

The Australian Dollar changed little after the Reserve Bank of Australia (RBA) rate meeting but it did mark a highpoint for the currency from which it spent the rest of the day falling.

Price growth extends and we see no reason to suspect it will not continue as there are no bearish indicators on the chart.

The Pound to Australian Dollar rose strongly in the previous week after Theresa May’s announcement to hold an election in June but it has now reached uncomfortably close to a level which is likely to cap future progress higher.

GBP/AUD has risen strongly over recent sessions and achieved levels which change the whole outlook for the chart from a technical perspective.

Markets surprised by lack of reaction to minutes but then Aussie falls following softening in iron ore prices

GBP/AUD is showing bearish potential after rotating lower after encountering resistance at the 200-day MA and the top of a pattern.

 The Pound to Australian Dollar has reached a ‘glass ceiling’ of resistance on price charts which will make it hard for it to rise any further.

 GBP/AUD has risen over the last week, moving up to a level of 1.6500.

 A report from the Australian government has given a negative forecats for iron ore - but is the report really that negative about Australian trade in general, and what are the implications for the exchange rate?

The Pound to Australian Dollar pair has continued rising and building on gains it made after breaking above a key trendline on March 21.

The Australian Dollar fell against most counterparts on Monday morning after the release of February Retail Sales data showed a disappointing decline in February.

The Pound to Australian Dollar has seen something of a rebound since the March 16 1.58 lows and is currently trading at 1.6457.

The Australian Dollar is likely to weaken over the medium term because of the twin effects of a fall in Chinese demand for Australian commodities and slowing wage growth.

EUR/AUD has been sliding lower in a neat descending channel over the last ten months, recently it flirted with a key overhead level - will it push higher or begin a new more bearish phase instead?

The GBP/AUD pair has moved successively lower as the Pound has depreciated due to Brexit fears and the Australian Dollar has gained strength mainly from rising commodity prices.

GBP/AUD is breaking higher suggesting a change of trend could be in the offing

Iron Ore traders were the most pessimistic group in a recent survey of commodity practitioners by international commodity and financial services conglomerate Macquarie.