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- Better than expected China GDP data boosted the Aussie which saw a 45 pip knee jerk rally
- China's GDP data came in at 6.9% Y/Y beating expectations of 6.8%, but below the previous of 7% Y/Y
- AUD/USD was trading around 0.7240 before the data, spiked to 0.7290 levels after and has since pared some gains
- Asian stocks are currently trading mixed, unimpressed by better than expected China GDP figures
- AUD/USD is currently trading at 0.7272, cloud top at 0.7282 is a strong resistance zone
- A break of the 0.72 handle on the downside puts the 55 DMA at 0.7179 under pressure ahead of 0.7146
R1: 0.7282 (Cloud top)
R2: 0.7290 (Session high Oct 19)
R3: 0.73 (Psychological level)
Support levels:
S1: 0. 7218 (55 EMA)
S2: 0.72 (Psychological level)
S3: 0.7179 (55 DMA)
