Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.72263 with take profit at 0.72385.
Bearish Preference:
Sell position is envisaged if price trades below 0.72090 with take profit at 0.71955 .
Fundamentals:
No major fundamental
Comment: AUD/USD is in focus at the start of the Asia-Pacific trading week, with China’s fourth-quarter gross domestic product (GDP) data set to cross the wires. Analysts expect growth to slow to 3.6% in Q4 on a year-over-year basis, according to a Bloomberg survey. That would be the slowest rate of growth in 18 months. The Australian Dollar may react to the data print given Australia’s economic link to China.
Analysis: SCRUM Team