AUDUSD retreats from 8 month high ahead of AU GDP
The AUDUSD finished lower last week at .6765 (-0.47%), retreating from an eight-month high of .6824 as the USD received support from month-end rebalancing flows and stronger US economic data.
This week, all eyes turn to Wednesday's AU June quarter (Q2) GDP. The market is looking for a rise of 0.3%QoQ, which would see the annual rate ease to 1.0% YoY, fractionally above the RBA’s forecast of 0.9% YoY.
Technically, the AUD/USD needs to see a sustained break above .6800/25c to open up a test of the December .6871 high before weekly trend line resistance at .6940. Aware that while the AUD/USD remains below the .6800/25 resistance level, rotation lower to the 200-day ma at .6612 is still possible.
This week, all eyes turn to Wednesday's AU June quarter (Q2) GDP. The market is looking for a rise of 0.3%QoQ, which would see the annual rate ease to 1.0% YoY, fractionally above the RBA’s forecast of 0.9% YoY.
Technically, the AUD/USD needs to see a sustained break above .6800/25c to open up a test of the December .6871 high before weekly trend line resistance at .6940. Aware that while the AUD/USD remains below the .6800/25 resistance level, rotation lower to the 200-day ma at .6612 is still possible.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.