The AUD/USD surged higher to touch 0.7299 high as Australia GDP crossed the wires and beat expectations. The AUD/USD find support as strong economic data give signs that the Reserve Bank of Australia (RBA) would probably relieve rate cut policy in the coming period and the AUD/USD needs a break above 0.7315 in order to expand gains and touch 0.7355 and 0.7395.
Alternatively, if the RBA assists in rebalancing monetary policy and weak Chinese data will keep the AUD/USD under pressure and breaking the support point 0.7225 will open a lower leg to touch near-term support levels 0.7185 and 0.7155.
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