Forex: AUD/USD dips to 1.0190 on Aus GDP data
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - The Australian Dollar continues to roll over after lower-than-expected growth figures 'down under'. The latest GDP figures show Australian 2Q GDP +0.6% on quarter vs +0.8% overall consensus; There was an upward revision in previous Q1 data from 1.3% to 1.4%, which might have stalled somewhat downside momentum. On a yearly basis, 2Q GDP +3.7% on Year vs +3.7% estimates. The AUDUSD has printed a new 6-week low at 1.0190, with barriers at 1.0200 tripped pre-data announcement. The next support level is found around July 25 low at 1.0170. Corrections will likely encounter buying interest at broken support-turned-resistance 1.0220-25 followed by solid supply ahead of 1.0250.