- Aussie was dumped early in the Asian session after Australia Q3 GDP data missed expectations.
- Australia s/adj Q3 GDP printed at +0.6 pct q/q, missing forecasts at +0.7 pct. Y/Y GDP rose +2.8 pct, below expectations at +3.0 pct.
- AUD/USD has failed extend gains above 200-DMA, slips lower to trade at around 85 levels.
- Price action has broken below 5-DMA at 85.30, finds next immediate support at 61.8% Fib at 84.85.
- The pair has been on a downward spiral since Sept 2017 and we see resumption of downside on break below 84.50 (major trendline).
- On the flipside, we see further gains only on decisive close above 200-DMA. Scope then for test of 38.2% Fib at 86.93.
Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-retraces-above-85-handle-scope-for-further-upside-200-DMA-at-8590-in-sight-1034016) has hit all targets.
Recommendation: Wait for clear directional bias.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -122.59 (Bearish), while Hourly JPY Spot Index was at 126.507 (Bullish) at 0500 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: GBP/USD gains on upbeat UK retail sales data
FxWirePro: GBP/AUD recovers slightly but outlook is still bearish
FxWirePro: USD/ JPY remains buoyant, looks to extend gains
FxWirePro: EUR/ NZD under pressure after early buying dries up
FxWirePro: EUR/AUD tight ranges prevail as market waits for fresh catalyst
FxWirePro- Woodies pivot (Major)
NZDJPY Dip-Buy Setup: 93.58 Holds as Bulls Eye 95–96
FxWirePro: USD/ZAR slips as rand gains on peace talk hopes
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD edges higher but bearish outlook persists
FxWirePro- Woodies pivot (Major)
FxWirePro-Major European Indices
FxWirePro: GBP/AUD maintains bearish bias with focus on 1.8800
Euro Stabilizes Near 1.1713 as IFO Weakness Meets Oil Volatility; 1.1800 in Focus
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary 



