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AUDUSD 2016-12-22


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.


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