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Jun 01 - 07:55 PM

AUD/USD - Outperforms Ahead Of Aus Q1 GDP

By John Noonan  —  Jun 01 - 06:16 PM
  • AUD/USD opens +0.32% and was best performing currency despite dovish RBA

  • Strong rise in iron ore offset slight fall in copper and dovish RBA

  • AUD/NZD short covering underpinned as the cross rose 0.62%

  • AUD/USD whippy between 0.7730/70 through London and NY sessions

  • Support is at 100-day MA at 0.7727 and break would likely see follow-through

  • Resistance is at the 50% of the 0.7891/0.7677 move at 0.7784

  • Aus Q1 GDP today will be the key event for the AUD/USD

  • Reuters poll shows +1.5% Q/Q expected, but market looking for around +2.0%

  • Partial data released yesterday suggests better than the +1.5% poll

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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