the actual GDP growth rate QoQ in Australia is lower than the forecasted rate, the AUDUSD exchange rate could potentially be bearish. This is because the lower-than-expected growth rate may lead to a decrease in investor confidence in the Australian economy and its currency, causing traders and investors to sell AUD and move towards other currencies, including the USD.
The AUDUSD pair is expected to break the support level at 0.66955 and head towards 0.66414.
The AUDUSD pair is expected to break the support level at 0.66955 and head towards 0.66414.