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Slow Growth in China Might Impact AUDUSD

AUDUSD is again heading higher and consolidating on hourly chart giving signal that the pair might breakout from the resistance at .9337. China is the largest trading partner of Australia and economic downturn in Chinese economy will definitely impact Australian economy. Property prices in most of the Chinese cities continued to as lending limits and concerns about price cut hits demand. However local governments in china is considering easing some eligibility criteria for second or subsequent homes. Economic growth also slowed to 7.4% year over year in the first quarter after reaching 7.7% in the last quarter of 2013.

The pair might seems bullish according to the triangle but according to the growth report of China the pair might reverse the trend and might breakout from the rising support trend line of the triangle.