ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPAUD Continues to Defend Rising Channel
In the last monetary policy meeting held by the Reserve Bank of Australia (RBA), they increased the interest rate by 25 basis points to 2.85%, the highest level since 2013, pulling the parity back a bit. However, within the framework of the efforts to close the public finance gap announced by the British Finance Minister Jeremy Hunt, the 55 billion-pound package consisting of tax increases and spending cuts seems to allow the pound to remain resistant. Technically, it may be possible that the parity, which is seen to continue its upward movements in the ascending channel, will take the resistance of 1.7955 to the agenda if it rises above the 1.7900 level with permanent closes. In the retracement movements that may occur, 1.7775 and then 1.7715 supports can be followed.
