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Jun 03 - 09:48 PM

AUD/USD - GDP Bang On Expectations - Back To Risk And The USD

By Andrew M Spencer  —  Jun 02 - 09:40 PM
  • GDP -0.3% Q/Q median forecast -0.3% and 1.4% Y/Y as expected

  • Knee jerk 20pt dip, from highly overbought levels

  • GDP impact likely short lived, risk and the USD to dominate

  • Charts; momentum studies, 5, 10 & 21 DMAs track north - positive setup

  • 21 day Bollinger bands a good indicator of an over stretched market

  • Upper Bollinger band at 0.6871 suggests overbought short term

  • Earlier 0.6886 low & 0.7020-32 2020 and Dec 31 top first support-resistance


aud 3 jun 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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