GBP/USD News and Analysis (2015.06.29)

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GBP/USD News and Analysis 

Source: Fx Direct Forex Broker

During the previous week, the AUD traded 1.46% lower against the USD and ended at 0.7659. In economic news, Australia’s house price index advanced less than expected by 1.6% QoQ in the first quarter of 2015, following a revised increase of 2.0% in previous quarter, while the Australia’s leading index fell 0.30% MoM in April, after registering a drop of 0.10% in the previous month. Elsewhere in China, Australia’s largest trading partner, the flash HSBC/Markit manufacturing PMI index in June rose to 49.60, compared to a level of 49.20 in the prior month.  During the previous week, the pair traded at a high of 0.7799 and a low of 0.7629. Immediate downside, the first support level is seen at 0.7590, followed by 0.7524, while on the upside, the first resistance level situated in 0.7760, followed by 0.7864. In the coming week, investors would concentrate on Australia’s retail sales and trade balance data for further cues.

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