Australian Q1 Wage Cost Index and April New Vehicle Sales data both came in below expectations, even though neither were a huge market focus, it is just another sign of the Australian economy not performing as well as expected. The Aud/usd has the pair that was most active during Asian trade on Wednesday hitting a low of 0.9881, close to its Tuesday low of 0.9875.
Trade Idea
AUD/USD
The market has been falling for seven consecutive days and today looks like the pair will be heading in that direction once gain. An uptick towards the 0.9944 resistance should be seen as a selling opportunity. Next target 0.9820.
Disclaimer • Risk Warning
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