AUD/USD continues surging on risk-on revival ahead of China GDP
AUD/USD is pushing higher ahead of Thursday's China data dump. With Middle East tensions easing and the US dollar softening, we break down the short-term setups and map out a medium-term reversal zone.
Key topics covered
AUD/USD scenarios & trade plan
Are you buying the Aussie into the China data or waiting to short the resistance? Share your thoughts in the comments.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice.
ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Key topics covered
- China GDP: Markets expect Q1 growth to accelerate to 4.8% YOY. A strong print would support the Aussie.
- Risk-on recovery: Easing geopolitical tensions have pushed the S&P 500 above pre-war levels, suggesting a broader recovery.
- The 0.7250 cluster: Price is targeting a technical wall combining the 61.8% Fibonacci (0.7217), the upper channel resistance, and a broadening pattern top.
AUD/USD scenarios & trade plan
- Bullish (Short-term): If China data hits or beats 4.8%, traders may look for short-term longs targeting the 0.7188 peak and the 0.7217 - 0.7250 zone.
- Bearish (Medium-term): Watch for a spike into the 0.7200 - 0.7250 cluster. If we see wicky rejections and daily RSI divergence, the bias flips. Traders may fade the strength for a drop back to the mid-channel or the 0.6830 base.
Are you buying the Aussie into the China data or waiting to short the resistance? Share your thoughts in the comments.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice.
ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.