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    AUD/USD: upside favoured on Bremain leading polls Ross J Burland

    AUD/USD spiked on the remain campaign taking the lead in the polls and odds. AUD/USD has been bid from 0.7490 and made highs of 0.7526 in recent trade. Brexit trade: a look beyond sterling and get back to basicsThe latest polls were in from YouGov (online): Remain 51% and Leave 49% and ComRes (phone): Remain 48% and Leave 42% - AUD/USD started out at 0.7460 overnight and has been better bid to 0.7526 before a pull back and buying on dips took the pair to recent aforementioned highs on the sentiment of a remain victory. AUD/USD levelsValeria Bednarik, chief analyst at FXStreet explained that, technically, the 4 hours chart shows that the indicators have lost upward momentum, "But, remain within positive territory, whilst the 20 SMA extended its advance above 0.7450, a major Fibonacci support, the 38.2% retracement of this year's rally." On further advances, and while the upside remains favored, she added that a break above 0.7540 a strong static resistance, is required to confirm additional gains up to the 0.7600 price zone. Analysts at Commerzbank explained that should the market fail here than attention will revert to the 200 day ma at 0.7278, and this is the breakpoint to the 0.7146 May low. "Beyond this, we favour losses to the 78.6% retracement at 0.7044."


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