Weekly To monthly Base:
The AUD/USD pair has been moving up in a trend and recently the bulls have managed to break through the upper ascending channel boundary and made a new local high 4 MONTHS at the level of 1.6980.
Next few Week Expecting Big correction downside.
Australia's gross domestic product was down a seasonally adjusted 0.3 per cent on quarter in the first three months of 2020, the Australian Bureau of Statistics said on Wednesday. That was in line with expectations following the 0.5 per cent quarterly gain in the three months prior. On a yearly basis, GDP expanded 1.4 per cent - again matching expectations and slowing from 2.2 per cent in the previous quarter. The GDP deflator was up 1.1 per cent on quarter after sinking 1.2 per cent in the three months prior, while capital spending fell 0.8 per cent after sliding 1.0 per cent in the previous three months.
🛑SUPPORT/RESISTANCE
✅S1= 0.6800
✅S2=0.6530
✴️R1=0.6980
✴️R2=0.7125
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The AUD/USD pair has been moving up in a trend and recently the bulls have managed to break through the upper ascending channel boundary and made a new local high 4 MONTHS at the level of 1.6980.
Next few Week Expecting Big correction downside.
Australia's gross domestic product was down a seasonally adjusted 0.3 per cent on quarter in the first three months of 2020, the Australian Bureau of Statistics said on Wednesday. That was in line with expectations following the 0.5 per cent quarterly gain in the three months prior. On a yearly basis, GDP expanded 1.4 per cent - again matching expectations and slowing from 2.2 per cent in the previous quarter. The GDP deflator was up 1.1 per cent on quarter after sinking 1.2 per cent in the three months prior, while capital spending fell 0.8 per cent after sliding 1.0 per cent in the previous three months.
🛑SUPPORT/RESISTANCE
✅S1= 0.6800
✅S2=0.6530
✴️R1=0.6980
✴️R2=0.7125
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.