Australian Dollar Today

Australian dollar to survive in a narrow range since the opening of the U.S. session, trading above the 0.9100 level, and with a limited bullish tone in the chart by one hour, with rates above 20 SMA and indicators facing higher in the positive territory. But in the 4 hours chart, price hovering around 20 SMA while indicators of potential loss of up and turned south around their midlines, giving little room for another hike. Most in consolidative mode, the down side is still in demand towards the 0.9050 area / 60, while a break below it will lead to testing 0.8980 price zone.

Support levels: 0.9100 0.9060 0.9020

Resistance levels: 0.9150 0.9200 0.9245

Read More

Australian Dollar

The market value of all final goods and services produced in Australia during a specific period. The growth rate of GDP is used as a broad gauge of the overall economic health. Robust GDP growth signals a heightened level of activity that is generally associated with a healthy economy. However, economic expansion also raises concerns about inflationary pressures, and strong GDP growth may induces the Australian central bank to raise interest rates in order to combat inflation. As a result, positive GDP readings are typically bullish for the Australian dollar, while slumping GDP growth is usually bearish. The headline figure for GDP is an annualized percentage growth rate

Read More