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Apr 15 - 11:55 PM

AUD/USD - Gangbuster China Data, Minor GDP Miss Weighs On AUD

By Andrew M Spencer  —  Apr 15 - 10:23 PM

  • Trades off 0.3%, extending losses after mixed but strong China data

  • China IP missed forecasts but retails sales beat expectations nB9N2L600X

  • GDP grew at a record 18.3% y/y, as the recovery builds nB9N2L600W

  • China GDP forecast at 19%, so initial reaction modest risk off

  • Techs; momentum studies 5 & 10 daily moving averages climb positive setup

  • 0.7763 upper 21 day Bolli band caps - good indicator of an overbought market

  • 0.7769, 50% of the 2021 fall just above, so topside progress likely slow

  • Knee jerk 0.7724 low and Thursday's 0.7706 Asian base initial support

For more click on FXBUZ


aud 2 apr 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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