AUD/USD jumped after the Chinese economy grew more than expected in the July-September quarter. What is the outlook and the key levels to watch in AUD/USD?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.09% 🇨🇭CHF: 0.07...The Chinese economy more than forecast in the third quarter.The Chinese economy grew 4.9% on-year in the July-September quarter, Vs 4.4% expected and 6.3% in the previous quarter.
RBA Governor Michele Bullock reiterated the hawkish bias early Wednesday, saying authorities will respond with policy if inflation stays higher than expected. The key focus is now on Australian jobs data is due on Thursday and will likely provide cues heading into the RBA policy meeting next month.has been holding above support on the lower edge of a declining channel since August, around minor support at the early-October low of 0.6285.
Given concerns that the Middle East conflict could widen, the bar appears to be rather high for the pair to witness a sustained rebound. The 14-day Relative Strength Index has been capped at 50-55 suggesting the broader trend remains down. Subsequent barrier is on the upper edge of the Ichimoku cloud on the daily charts.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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