In this video update, we take a look at the AUDUSD ahead of the GDP announcement. The RBA yesterday held interest rates, at 1.5%, this
was likely to happen as reports suggested investors will be eyeing up the GDP release for last quarter. This data could have an impact on the
RBA's decision to cut interest rates.
Technically we need to keep an eye on the key support zone around 0.7050 as this area will be key to giving us an insight into what may occur next.
If this zone holds as support, expect further upside. If we see a break and close below, look for further downside.
was likely to happen as reports suggested investors will be eyeing up the GDP release for last quarter. This data could have an impact on the
RBA's decision to cut interest rates.
Technically we need to keep an eye on the key support zone around 0.7050 as this area will be key to giving us an insight into what may occur next.
If this zone holds as support, expect further upside. If we see a break and close below, look for further downside.