AUDUSD ForecastAUDUSD Technical AnalysisCurrenciesCurrencies ForecastForecast And Technical Analysis PremiumForecastsTechnical Analysis
AUDUSD Forecast : Disapponting Q3 GDP Numbers
AUDUSD Forecast : Disapponting Q3 GDP Numbers
The Australian Q3 GDP numbers released and disappointed the consensus by a wider margin as it limped higher by +0.3%/qtr.
“GDP expanded by “only” 2.8% in 2016 and 2.4% in 2017 and yet the labour market is robust and wages are rising, albeit gradually. The RBA expects growth to ‘average around 3½% this year and next’ while the market’s 2018 and 2019 estimates are 3.0% (was 3.4%) and 3.1% (was 3.3%) respectively, on a mark-to-market basis.”
Australian 10yr bond yield broke below 2.50%, a level that has historically served as a strong floor.
Technically:
The pair is trading at 0.72900 as of writing and H4 Chart indicators and readings turned from bullish to bearish. 0.72600 where SMA 100 H4 Chart and MM 2/8 resides remain as a major support. A firm break below would carry the price towards 0.72000 key level.
Any decent pattern and trade setup will be published for the members.
You can check our signal results
Subscribe to our services or copy our trades free of charge
Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.
Forex Signals
