Australia has slipped into recession. Yesterday's announcement of 2Q GDP was announced to be -6.3%. The contraction marked the lowest on record.
AUD/USD – The greenback continues weighing on the pair as it shows recovery on account of strong ISM Manufacturing PMI. The weekly chart has indicated a potential Doji – indicating signs of exhaustion. 5-DMA support is at 0.7345. A break below 5-DMA could see a lowering until 21-EMA at 0.7232.
AUD/NZD – It has been sold off at supply zone and the price is testing a critical support structure and the confluence of a 38.2% Fibonacci level.
Telah diedit 03 Sep 2020, 07:41
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