4 Dec 2013
AUD/USD dumped after poor Australian GDP
FXstreet.com (Bali) - The AAUD/USD had a sharp fall following worse-than-expected Australia GDP growth data in Q3, coming at a disappointing 0.6% (QoQ) vs 0.6% expected by the market.
AUD/USD slid by more than 50 pips with strong selling absorbing layers of demand with unusual ease. The exchange rate was taken from 0.9135 down to only find first decent bids at 0.9070, where a small rebound has been noted.
AUD/USD technicals
On the downside, Jim Langlands, Founder at FXCharts, notes: "0.9100 again becomes the first, minor support, below which would see 0.9075 and then the strong 0.9055 level (0.9059: 76.4% of 0.8848/0.9757). Below that would head to 0.9036 (4 Sept low) and under 0.9000 would head towards 0.8972 (3 Sept low)."
AUD/USD slid by more than 50 pips with strong selling absorbing layers of demand with unusual ease. The exchange rate was taken from 0.9135 down to only find first decent bids at 0.9070, where a small rebound has been noted.
AUD/USD technicals
On the downside, Jim Langlands, Founder at FXCharts, notes: "0.9100 again becomes the first, minor support, below which would see 0.9075 and then the strong 0.9055 level (0.9059: 76.4% of 0.8848/0.9757). Below that would head to 0.9036 (4 Sept low) and under 0.9000 would head towards 0.8972 (3 Sept low)."