AUD/USD Outlook (01 December 2021)
Overall, AUD/USD is trending downwards. Recently, AUD/USD traded into the support zone of 0.71000.
The Australian GDP q/q data (Actual: -1.9%, Forecast: -2.5%, Previous: 0.7%) released earlier today indicated a decline in economic growth during the third quarter.
The Australian Retail Sales m/m data (Forecast: 4.9%, Previous: 4.9%) will be released tomorrow at 0830 (GMT+8).
Currently, AUD/USD is testing the support zone of 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.71000.
The Australian GDP q/q data (Actual: -1.9%, Forecast: -2.5%, Previous: 0.7%) released earlier today indicated a decline in economic growth during the third quarter.
The Australian Retail Sales m/m data (Forecast: 4.9%, Previous: 4.9%) will be released tomorrow at 0830 (GMT+8).
Currently, AUD/USD is testing the support zone of 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.71000.
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