The GDP is shrugged off
Less that 24 hours ago the Australian GDP came in at -0.5% for the 3Q. That was much worse than the -0.1% estimate. The AUDUSD tumbled accordingly BUT was not able to take out the lows from Monday at the 0.7410 level. The price started to correct and when the price moved above the 200 hour MA at the 0.7446 level (and base against the level, traders pushed higher.
Forex technical analysis: AUDUSD has an impressive rebound after dismal GDP
