{"id":124247,"date":"2018-03-29T09:45:06","date_gmt":"2018-03-29T13:45:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=124247"},"modified":"2018-06-01T15:40:57","modified_gmt":"2018-06-01T15:40:57","slug":"audusd-forex-technical-analysis-weak-economic-data-bearish-for-audusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/audusd-forex-technical-analysis-weak-economic-data-bearish-for-audusd\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Weak economic data bearish for AUDUSD"},"content":{"rendered":"
March 29, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Weak economic data bearish for AUDUSD<\/strong><\/p>\n

Q4 economic growth and January retail sales in Australia were lower than expected. Will the AUDUSD <\/a> pullback continue?<\/p><\/blockquote>\n

Australian economic data have been mostly weaker than expected recently: the Australian economy grew 0.4% over quarter in the last three month of 2017 when 0.6% growth was expected, and retail sales in January rose just 0.1% on month when 0.4% growth was expected after 0.5% drop in December. The turning of the balance of trade deficit of over 1 billion Australian dollar into a surplus of roughly the same size in January was a positive development though. The Reserve Bank of Australia is expected to leave the policy unchanged at its April 3 meeting. Weak data are bearish for AUDUSD.<\/p>\n

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

On the daily timeframe AUDUSD: D1 <\/b> is retracing lower after hitting thirty-four-month high in the end of January. The price has fallen below the 200-day moving average MA(200).<\/p>\n