AUDUSD Looks To Recover Further Higher

[FXTechstrategy.com]

AUDUSD. With the pair rejecting lower level prices on Thursday, further bullishness is likely. On the downside, support resides at the 0.7200 level where a breach will aim at the 0.7150 level. Below that level will set the stage for a run at the 0.7100 level with a cut through here targeting further downside pressure towards the 0.7050 level. On the upside, resistance lies at the 0.7300 level. A cut through here will turn attention to the 0.7350 level and then the 0.7400 level where a violation will set the stage for a retarget of the 0.7450 level. Its daily RSI  has turned higher suggesting more strength. On the whole, AUDUSD remains biased to the upside on price failure.

 

[thenews]

Economists raise Australian Q1 GDP forecast after today's net exports data

Bloomberg out with the results of a poll of 27 economists 31 May

• now expect qq +0.8% vs +0.6% prev
• yy +2.8% vs +2.7% prev

Eamonn had all today's Aussie data in one place here.

Australian Q1 GDP due to be released 11.30 am Sydney tomorrow 1 June

Meanwhile AUDUSD 0.7241 after finding 0.7250 a step too far after today's data-led rally from 0.7185