{"id":112302,"date":"2017-09-06T09:44:37","date_gmt":"2017-09-06T13:44:37","guid":{"rendered":"http:\/\/countingpips.com\/?p=112302"},"modified":"2017-09-06T06:45:29","modified_gmt":"2017-09-06T10:45:29","slug":"audusd-forex-technical-analysis-improving-growth-bullish-for-australian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/audusd-forex-technical-analysis-improving-growth-bullish-for-australian-dollar\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Improving growth bullish for Australian dollar"},"content":{"rendered":"
September 6, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Improving growth bullish for Australian dollar<\/strong><\/p>\n

The Australian economy accelerates. Will the Australian dollar <\/a> continue strengthening?<\/p>\n

The Reserve Bank of Australia (RBA) held the interest rate at record low 1.5% at its September 5 policy meeting. While inflation is low and wage growth stagnant the central bank expects the economy will continue growing helped by rising commodity prices. Today second quarter GDP was released and growth accelerated to 0.8% over quarter from 0.3% in the first three months. Recent economic data were mixed: unemployment rate fell to 5.6% in July from 5.7% in June. And the business confidence index by the National Australia Bank (NAB) rose to 12 points in July, up from the 9 points in March. Consumer confidence slipped in August. At the same time retail sales in June slowed to 0.3% on month, less than the 0.6% growth in May. Accelerating economy will contribute to Australian dollar\u2019s strength.<\/p>\n

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

On the daily timeframe AUDUSD: D1 <\/b> is retracing higher after hitting nine-month low in the beginning of May. The price has risen above the 200-day and 50-day moving averages MA(200) and MA(50), both rising.<\/p>\n