The AUD/USD pair fell yet again despite performing positively yesterday after the RBA's interest rate statement. From trading around the 0.9035 zone yesterday, the pair fell sharply today due to disappointing Australian GDP for Q3. From the expected growth by 0.8%, actual growth was only 0.6% compared to the previous quarter. Over the past 12 months, it only grew by 2.3%, which was lower than the expected 2.6%.
The lacklustre performance of the pair may also be affected by China's Services PMI for November. It came out lower at 52.5 compared to the previous month's 52.6.
Outlook of the pair fell even further after Australian Treasurer Hockey said that the "Australian economy is in second gear" referring to the slow-paced performance of the country's economy as of late.
The AUD/USD pair fell steadily at today's Asian session as it broke below the 0.9060 support, which could then open it up to further declines. The pair is currently trading at 0.9055, with initial resistance seen at 0.9188, followed by 0.9211. Meanwhile, initial support is at 0.9096, followed by 0.9074.
A selling spree of the USD during yesterday's European session, meanwhile, dragged the USD/JPY back to the sub-103.00 zone. From yesterday's highs at the 103.35 area, the pair sunk steadily until the end of the trading day. It opened strong during the Asian session, as it broke past the 102.60 area, but has since fallen down again. It is currently trading at 102.42, with initial resistance seen at 102.91, followed by 103.16. Meanwhile, initial support is at 101.49, followed by 101.24.
The GBP/JPY pair also had a similar performance as the USD/JPY as it made a steady slide during the rest of yesterday's session after a spike above the 169.00 zone.
The pair opened at 167.69 in today's Asian session, and is currently trading at 167.84. Initial resistance for the pair is at 168.50, followed by 168.92. Meanwhile, initial support is at 166.68, followed by 166.26.
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