AUD/USD Price Analysis: Retreats from golden Fibonacci ratio on China data, 0.6640-35 eyed AUDUSD Technical Analysis ChartPatterns SwingTrading Fibonacci
upside momentum at the highest levels in three weeks. That said, the Aussie pair retreats towards the intraday low surrounding 0.6670 heading into Wednesday’s European session.
On the other hand, Aussie Q1 GDP rose 0.2% QoQ compared to 0.5% previous readings and 0.3% market forecasts. On the same line, the yearly GDP came in as 2.3% versus the analysts’ estimation of 2.4% YoY and 2.7% previous readings.pattern on the four-hour play while recently reversing from the 61.8% Fibonacci retracement of its May 10-31 downturn, also known as the golden Fibonacci ratio.
However, a clear downside break of the stated wedge’s bottom line, close to 0.6650 at the latest, becomes necessary for the AUD/USD bears to retake control.
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