{"id":103565,"date":"2017-03-17T06:57:30","date_gmt":"2017-03-17T10:57:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=103565"},"modified":"2017-03-17T06:57:30","modified_gmt":"2017-03-17T10:57:30","slug":"audusd-forex-technical-analysis-improved-global-economy-buoys-australian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/03\/audusd-forex-technical-analysis-improved-global-economy-buoys-australian-dollar\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Improved global economy buoys Australian dollar"},"content":{"rendered":"
March 17, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Improved global economy buoys Australian dollar<\/strong><\/p>\n

The Reserve Bank of Australia didn\u2019t cut the interest rate at its March policy meeting. The Australian dollar <\/a> is rising after positive recent data. Will the Australian dollar continue strengthening?<\/p>\n

The Reserve Bank of Australia (RBA) refrained from cutting the interest rate from 1.5% at its March 7 policy meeting. The central bank stated the economy is continuing its transition following the end of the mining investment boom, expanding by around 2.5% in 2016. Exports have risen strongly and non-mining business investment has risen over the past year. Commodity prices have risen as global economy has improved, supporting Australia\u2019s economic growth. Chinas economy, which is Australia\u2019s main trade partner and export market, continues growing at above 6% annual rate. China has lowered its economic growth target to 6.5% this year as the world’s second-largest economy aims to decrease systemic financial risks by lowering company debt levels. Nevertheless Chinese economic growth surpasses growth in other big economies, supporting global growth including Australia\u2019s economy. At the same time President Trump\u2019s protectionist stance and the Federal Reserve monetary tightening pose some risks for Australia\u2019s economy due to worsening trade prospects for Australia\u2019s main partners China, Japan and negative impact of stronger dollar on commodities, Australia\u2019s major exports. On April 4 Australia\u2019s Balance of Trade for February will be released and RBA will announce its interest rate decision.<\/p>\n

\"AUDUSD\"<\/p>\n

On the daily timeframe AUDUSD: D1 <\/b> is rebounding after trading with negative bias since it hit two-month high in the end of February. The price has rebounded above the 50-day moving average MA(50).<\/p>\n