• AUD/ USD slipped to four-month low on Wednesday after data showed Australia's Q3 GDP growth underperformed, leading markets to anticipate rate cuts starting in April.
• Data from the Australian Bureau of Statistics showed GDP grew 0.3% in Q3, below the expected 0.4%. Annual growth slowed to 0.8%, down from 1.0% in the previous quarter, the weakest pace since late 2020.
.• Annual growth slowed to 0.8%, down from 1.0% in the previous quarter, the weakest pace since late 2020.
• At GMT 05:11, The Aussie dipped 0.81% to $0.6433, lowest since August 6th.
• Immediate resistance is located at 0.6479 (38.2%fib), any close above will push the pair towards 0.6543(50%fib).
• Support is seen at 0.6406(23.6%fib) and break below could take the pair towards 0.6380(Lower BB).
Recommendation: Good to sell around 0.6450, with stop loss of 0.6570 and target price of 0.6350.
