China’s Q2 data releases were the main driver for the AUD/USD this morning, with aussie-dollar trading slightly lower at $0.9340 compared with the US close of $0.9370 in the aftermath. Aussie-dollar traded in a tight $0.9367 to $0.9375 range during the opening hours of the session but drifted lower to $0.9357 soon after. It was holding near $0.9360 just before the Chinese data release. Aussie-dollar initially responded to the slightly higher than-forecast Q2 GDP reading with a jump to $0.9370, it held there for a few minutes but was then pulled back down as players digested the details of the GDP numbers. Aussie-dollar retreated below the early $0.9355 low and then sank below the55-day moving average at $0.9350, before hitting stops at $0.9345. It traded a low of $0.9332 and continued to trade near that low through the rest of the session. Aussie-dollar was last at $0.9339. Stops remain below $0.9325 and below $0.9300 with a close below to then target the 200-day moving average at $0.9197.
