The AUD/USD surged higher and tests near the major resistance level 0.7740 as China’s GDP meets forecast. The AUD/USD needs a candle above 0.7745 to regain its momentum and to open an uptrend toward 0.7770 and 0.7820 respectively.
Alternatively, the AUD/USD turns downward and trades lower as the RSI warned that the Aussie run might have come to an end and Michigan survey on Friday supported the downturn movement. Breaking the support point 0.7630 will push the AUD/USD lower near next support levels 0.7605 and 0.7585.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.