After muted immediate reaction to the RBA interest rate decision yesterday, Aussie resumed its downtrend and lost nearly a cent by the end of the day. The decline continued overnight ahead of and after the release of weaker than expected Q2 GDP report:

GDP (QoQ) 0.2% vs. 0.4% expected, 0.9% previous
GDP (YoY) 2.0% vs. 2.2% expected, 2.5% previous

The pair is trading at new six-year lows and traded under 0.70 for the first time since April 2009. Support may come in between 0.6950 and 0.6980 (Low Of Day, Daily Support 1, April 20th 2009 low, Monthly Support 1, 50's). Resistance is seen in 0.7030 - 0.7060 band (Weekly Support 1, Previous Week Low, High Of Day, 50's, Daily Pivot Point).

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