News and Market Analysis

No Deal Brexit Causing Havoc
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The AUD started the week off like a roller coaster, with sharp drop and steep climbs. But where to from here? With is current momentum to the upside we can expect the Aussie to sprint to 0.7300 but this coaster cart needs more wind at it’s back to go much further than that. Support at 0.7255 then 0,7235 are the intraday levels. Overall, sentiment surrounding the AUD is weak and we should expect to see further falls in the weeks to come.

 

Gold has had a resurgence this week after spearheading through $1,940. Still a lot of psychological levels to be tested on both sides of the spectrum here but this might be enough to keep the bulls happy for now.

 

Things aren’t looking great the the pound at the moment as no-deal Brexit fears increase. GBP/USD is looking to trade below 1.32 heading into the open. With little data to come out and a strong dollar I can’t see anything saving the GBP today. We could see a drop to 1.3239 again and possibly even 1.3185