FxWirePro: Aussie strengthens immediately against major peers on the back of higher than expected GDP data
Wednesday, September 5, 2018 1:44 AM UTC
- AUD/NZD is currently trading around 1.1014 marks.
- Pair made intraday high at 1.1020 and low at 1.0936 marks.
- Intraday bias remains bullish till the time pair holds key support at 1.0930 mark.
- A sustained close above 1.0938 will drag the parity higher towards key resistances at 1.1058/1.1175/1.1268/1.1422/1.1526 levels respectively.
- Alternatively, a daily close below 1.0938 will take the parity down towards key supports around 1.0898/1.0844/1.0782/1.0658/1.0572/1.0502 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Australia Q2 2018 real GDP qq sa decrease to 0.9 % (forecast 0.7 %) vs previous 1 %.
- Australia Q2 2018 real GDP yy sa increase to 3.4 % (forecast 2.8 %) vs previous 3.1 %.
- Australia's S&P/ASX 200 index down 0.25 pct at 6,277.10 points in early trade.