AUD/USD fell again on Wednesday as the “risk off” trade dominates currently. The commodity markets all fell, and the Aussie was punished as a result. The gap form two weeks ago hasn’t been filled yet – we think that is about to change.
GBP/USD had a back and forth session on Wednesday as the market struggles to break below the 1.55 level. The 1.55 level is the start of a 200 pip zone down to the 1.53 level that is very supportive. Although we think this pair could eventually fall below that, a bounce could be coming in the short-term.
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