GBPAUD Testing the Bottom

by Ashraf Laidi

Apr 2, 2009 11:41

Aussie has long been a favourite on this website and its performance speaks for itself. But rather than pitting Aussie against the weak currencies, lets assess its potential against the sterling, whose robust ways suggest more upside for the Aussie against the British currency. The weekly chart shows the oscillators call for a bullish divergence. Sterling has been firming largely due to improved risk appetite but Aussies more fundamental superiority enabled it to quickly recover from negative retail sales. The latest AUDJDPYHotChart took 2 days to be in the money. GBPAUD is more of a longer term play for the 2.097 and 2.11 target to emerge. For more bang out of your buck, consider AUDGBP instead of GBPAUD. This is not only cheaper but offers more pips per capital used.

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