Following the 1.1% quarter on quarter GDP for an annualised 3.1% figure , The Aussie is now trading on the 200SMA Daily and as per the Hourly Chart below is coming to meet some Horizontal and Trendline Support. All eyes will be on tomorrows Retail Sales and Trade Balance figures.
With some positive tailwind behind it a hold looks promising around 0.72500. A buy here ( currently 0.72539 ) could lead to a nice bounce come the US session after an almost 50 pip retrace from the initial reaction almost touching 0.7300 the figure.
Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Forex Broker Vantage FX Pty Ltd does not contain a record of our prices, spreads or solicitation to trade. All opinions, news, research, prices or other information is provided as general news and marketing communication – not as investment advice. Consequently any person acting on it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness, Australian Forex Broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.