AUDCHF Repositioned for a Bearish Movement After Weaker GDP Data

4 בדצמ׳ 2024

AUDCHF Repositioned for a Bearish Movement After Weaker GDP Data

AUDCHF confirmed a bearish flag pattern overnight, driven by unexpected weaker GDP data.

The annual third-quarter GDP expanded by 0.8%, compared with 1.0% growth in Q2, and fell short of the consensus of a 1.1% increase. The quarterly GDP grew 0.3% QoQ in Q3, versus the expected 0.4%.

This bearish momentum on AUD is likely to continue pushing the price down in the coming days.

You may find more details in the chart!
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5 בדצמ׳ 2024

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