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Apr 30 - 07:55 PM

AUD/USD - Buoyant As Impact Fades From US GDP Contraction

By James Connell  —  Apr 30 - 06:42 PM

• AUD/USD recovers from an early NY sell-off attributed to global growth fears

• U.S. Q1 GDP -0.3%, exaggerated by front loading imports ahead of tariffs

• AUD bounced off trend channel base, needs boost to challenge 0.6462 200-DMA

• Tariff concerns continue to weigh on USD; traders wary of month-end flows

• AU trade data 0130 GMT Thur, AU retail sales/PPI and U.S. payrolls due Fri

• Overnight range 0.6357-0.6413, support 0.6355-60, resistance 0.6462 0.6550
AUD 4 Hour Trend Channels Chart


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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