AUD/USD Price Analysis: Bears move in at key support ahead of GDP data – by fx_ross AUDUSD Technical Analysis
The bulls could be waiting on the sidelines ahead of today's GDP.bulls are moving in at key support following a 125 pip move over the course of this week so far, falling from near 0.6835. The price would be expected to correct higher from here prior to the next potential move from the bears. The following illustrates the weekly template so far on the 1-hour chart ahead of today's key Gross Domestic Product data. in the GDP report that are key.
We have resistance around 0.6735 as the price currently takes on the -38.2% extension of the prior bearish impulse. Above the resistance, eyes will be on the 0.6775 area around the Wall Street opening highs. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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