FXstreet.com (Córdoba) - In a flat session this Wednesday in Asia, the Aussie dollar has brought some volatility after a worse-than-expected GDP figure weakened the Australian currency, pressuring it beneath Tuesday's low.
AUD/USD lost around 60 pips on the news and set a fresh 2-month low at 0.9536 before bouncing slightly on upbeat Chinese PMI. At time of writing, the pair is settling at the 0.9560 zone where it is 0.28% lower since opening.
From a technical perspective, the AceTrader analyst team observed, "Aussie's intra-day breach of yesterday's 0.9543 low signals recent decline has resumed and further weakness would be seen, however, near term loss of momentum should limit fall to 0.9500 in Asia and risk from there has increased for a corrective bounce later".
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