Forex - AUD/USD up during Asian trade

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Wednesday after the release of Australian data on GDP.

AUD/USD was trading at 1.0731, up 0.55% at time of writing.

The pair was likely to find support at 1.0609, Friday’s low, and resistance at 1.0757, Tuesday’s high.

Earlier in the day, official data showed that Australia’s gross domestic product fell more-than-expected to a seasonally adjusted -1.2% in the last quarter from 0.7% in the preceding quarter.

Analysts had expected Australia’s GDP to fall -0.3% in the last quarter.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.38% to hit 1.3440 and AUD/JPY rising 0.30% to hit 87.26.

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