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DragonCaptain

WEAK ECONOMIC DATA - STRONG USD - SHORT AUD

Australian Dollar / U.S. Dollar (FX:AUDUSD)  
DragonCaptain  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns
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trendanalysis harmonicpatterns chartpattern
Aussie under pressure because of worse-than-expected quarterly GDP data. The economy shrank 7% in the three months to end-June. Price can come down towards 0.7100 level in the long run if reversal continues. Economists are now saying that the recovery in Australia may take until early 2022 for an activity to return to pre-pandemic levels.
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