Aussie – Will the Hop Continue

June 1, 2016

Image: wikimedia.org

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.

AUD/USD Hourly:
0106AUD
Click on chart to see a larger view.

Arthur Drakopoulos – @VantageFX

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