AUD/USD Outlook (02 December 2020)
Overall, AUD/USD is trending upwards. Recently, AUD/USD trended into the resistance zone of 0.73900.
Yesterday, the Reserve Bank of Australia (RBA) kept its monetary policy unchanged and held interest rate unchanged at 0.10%.
The Australian GDP q/q data (Actual: 3.3%, Forecast: 2.4%, Previous: -7.0%) released earlier today indicated that Australian economy bounced back from negative growth during the third quarter, ending the technical recession.
Currently, AUD/USD is testing the resistance zone of 0.73900 and the next support zone is at 0.72200.
Look for short-term buying opportunities of AUD/USD if it breaks the resistance zone of 0.73900.
Yesterday, the Reserve Bank of Australia (RBA) kept its monetary policy unchanged and held interest rate unchanged at 0.10%.
The Australian GDP q/q data (Actual: 3.3%, Forecast: 2.4%, Previous: -7.0%) released earlier today indicated that Australian economy bounced back from negative growth during the third quarter, ending the technical recession.
Currently, AUD/USD is testing the resistance zone of 0.73900 and the next support zone is at 0.72200.
Look for short-term buying opportunities of AUD/USD if it breaks the resistance zone of 0.73900.
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