AUDUSD provided some colour overnight taking a 40-plus pip dip after Australian Q2 GDP came in slightly below expectations, albeit at a robust growth pace of 0.8% y/y, up from 0.3% q/q in Q1, and marking the 26th consecutive quarter of expansion. The Aussie dipped to a low of 0.7976 before settling around 0.7985. It gave up the psychological 0.8000 level it had held briefly yesterday, which had been sufficient to take out my target 1 at 0.8003, for a gain of 52 pips target 2 remains at 0.8034.
Click here to access the HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:
Senior Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.