Counting is underway in the UK but whole we have very few real votes, the voting day polls have shown a lead for the Remain campaign: either 52% to 48% or 54% to 46%. This has pushed the pound higher and also the the “risk” Australian dollar is enjoying the fruits.
AUD/USD advanced nicely and reached resistance at 0.7640, which worked as resistance around two months ago. However, from there it was rejected, as also the pound is showing hesitation.
The pair is currently ranging between 0.76 and 0.7640. Further support awaits at 0.7530 and 0.75. Further resistance is at 0.7740 and 0.7840.
We gave 3 reasons why GBP/USD can fall from here and this may apply to the Australian dollar as well.
There are no Australian releases nor Chinese ones due during the Asian session. However, at this time, only Australia and New Zealand are fully open so there is more potential for moves in these currencies.
Here is the chart:
More:
- EU Referendum Preview: Positioning, Scenarios and Key Results Releases
- Is your broker Brexit ready?
- Brexit or Bremain – all the updates
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