FXstreet.com (Barcelona) - The couple has operated in the red for most of the day as investors wait on the sidelines to take new positions ahead of a plethora of data in the US in a matter of hours, which will hold significant weight to the direction and perspective of the USD. The next big event of note for the economy of Australia is the interest rate decision from RBA (July 3) tomorrow morning at 4:30 GMT.
According Aquardo Adrian, an analyst at Trader College, "The price of the aussie is also a barometer of something more important: the state of the economy of China, Australia's main market and second largest economy. While no one knows whether the Chinese figures published are true, their growth slowed to minimum alarmingly in May, while slightly had to yield to U.S. pressure to revalue the yuan. "
The cross is now navigating the region of 1.0243, declining presently -0.18%. The technical analysts at ICN.com confirm the next support levels at 1.0220, followed by 1.0185, and finally 1.0125. On the upside, a beach of 1.0370 would enable the resistances of 1.0310, and ultimately 1.0415.
According Aquardo Adrian, an analyst at Trader College, "The price of the aussie is also a barometer of something more important: the state of the economy of China, Australia's main market and second largest economy. While no one knows whether the Chinese figures published are true, their growth slowed to minimum alarmingly in May, while slightly had to yield to U.S. pressure to revalue the yuan. "
The cross is now navigating the region of 1.0243, declining presently -0.18%. The technical analysts at ICN.com confirm the next support levels at 1.0220, followed by 1.0185, and finally 1.0125. On the upside, a beach of 1.0370 would enable the resistances of 1.0310, and ultimately 1.0415.
