On the topside:
- Sell orders 1.0360/70
- Sells 1.0315/25
- Selling 1.0280 through to 1.0300 (Also, see chart below)
Downside:
- Bids initially 1.0240/50 and again 1.0220/30
- Reports I’m getting has around 1.0200 building as a bid level
We get Q4 GDP for Australia at 0030GMT (preview to come). Expectations are for +0.6%, putting the annual rate at +3.0%. Any weakness in the reading will start to reignite rate-cut speculation for April/May.
Below is the daily AUD/USD chart with bonus Fib retracements overlaid:
Source is Reuters - click on chart to enlarge