FxWirePro: Aussie falls against major peers after lower than expected GDP data
Wednesday, September 7, 2016 1:54 AM UTC
- AUD/NZD is currently trading around 1.0342 marks.
- Pair made intraday high at 1.0372 and low at 1.0326 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1.0453 marks.
- A sustained close above 1.0453 will drag the parity higher towards key resistances at 1.0581/1.0652/1.0709/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
- Alternatively, current down fall will take the parity towards key supports around 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend.
- Australia Q2 GDP Q/Q decrease to 0.5 % (forecast 0.6 %) vs previous 1.1 %.
- Australia Q2 GDP final consumption increase to 0.8 % vs previous 0.7 %.
- Australia Q2 GDP capital expenditure increase to 0.0 % vs previous -1.7 %.
- Australia Q2 GDP chain price index increase to 0.9 % vs previous -0.4 %.