AUDUSD Looks To Recover Further Higher

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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.

 


 

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

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