Devastated by a surprise GDP release that highlighted that
the Australian Economy contracted by -0.5% in the last quarter of 2016 the
Aussie has taken a knock amidst the stronger Greenback and finds itself at
critical support levels at 0.7200. The Australian economy however remains
resilient as consumer and business sentiments remain positive and as the US
Dollar corrects, the AUDUSD pair will find itself testing resistance levels at
0.74000 and 0.76000 in immediate future. The Australian economy will be put to
the test during 2017 as weaker demand in China impacts this nation.
Comments
Post a Comment