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Jul 30 - 02:55 AM

AUD/USD - Near Dip-Buying Level; Likely Abysmal US GDP Ahead

By Ewen Chew  —  Jul 30 - 01:40 AM
  • AUD/USD retreats to 0.7156 from open 0.7189 Thurs

  • Greenback claws back from 2-yr lows before US Q2 advance GDP

  • Forecasts pin it at an abysmal -34.1% vs prev -5.0%

  • Any further disappointment could cripple USD's recovery

  • AUD/USD near 0.7127 base of Bollinger uptrend channel

  • Bounce off that level would reaffirm near-term bullish bias

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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