The Australian Bureau of Statistics reports about an increase in mortgage lending. The amount of approved mortgage loans increased by 1.3%, thus reaching AUD46.9 bn. Despite the fact that June’s growth was the biggest one since late 2011, the figures came out worse than expected (+2.0%).
Experts are sure that the mortgage lending sector in Australia will keep showing strength.
Forex.
According to , the Australian Dollar is still strengthening against the US Dollar. The experts report that AUDUSD keeps forming wave А(С)/С inside a bigger-scale upswing represented by wave А(С)/С of level Daily.
A further rally will probably encounter resistance around 1.0645, 1.0673. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.0529 (as shown below).
