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5 Jun 2013
AUD/USD breaking lower towards 0.9600 after Aussie GDP data
FXstreet.com (Barcelona) - The Aussie is edging lower in Asia trade, down 26 pips at 0.9613 after the most recent Aussie GDP figures were released at 2.5% vs. 2.7% forecast.
According to analysts at FXBriefs.com, “the market had been expecting 0.7% Q/Q and 2.7% Y/Y. Slightly worse than most economists thought, it is likely to weigh on the AUD for the rest of the session. AUD/USD dropped 25 points and is now trading at 9612.”
The FXStreet.com Trend Index remains in strongly bearish set up on the 60min chart, while the ob/os index sits at neutral. First support sits at 0.9594 (low price on June 3rd), followed by 0.9549 (low price on May 31st). Initial resistance sits at 0.9649 (the 20dma on 1 hour chart), followed by 0.9691 (supply on 1 hour chart).
According to analysts at FXBriefs.com, “the market had been expecting 0.7% Q/Q and 2.7% Y/Y. Slightly worse than most economists thought, it is likely to weigh on the AUD for the rest of the session. AUD/USD dropped 25 points and is now trading at 9612.”
The FXStreet.com Trend Index remains in strongly bearish set up on the 60min chart, while the ob/os index sits at neutral. First support sits at 0.9594 (low price on June 3rd), followed by 0.9549 (low price on May 31st). Initial resistance sits at 0.9649 (the 20dma on 1 hour chart), followed by 0.9691 (supply on 1 hour chart).