Be Cautious For AUD Parity, Markets Eye GDP & RBA Governor Lowe’s Speech in Focus; Dec 01, 2020

Australia GDP Q/Q

Australia will publish GDP q/q data around 0030 GMT/0600 IST on Dec 02, 2020. In addition, RBA Governor Lowe’s speech is scheduled to release in early Asian hours. GDP is the broadest measure of economic activity and the primary gauge of the economy’s health.

Let’s see how AUD has reacted during the previous data release:

Sept 02:

June 03:

Technical View:

AUD/USD: Today RBA kept interest rate unchanged at 0.10 pct. Along with it, Australia released robust current account as well as building approvals data. The pair made intraday high at $0.7373 and low at $0.7338 marks. On the top side key resistances are seen at $0.7424, $0.7456, $0.7476 and $0.7520 mark respectively. On the other hand, a consistent close below $0.7340 will take the parity down towards key supports around $0.7298, $0.7270, $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respectively.

Take a look and do trade wisely!
Good Luck