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AUD/USD chart - Trading View
AUD/USD was extending weakness for the 2nd straight session, trades 0.19% lower on the day at 0.7742 at around 04:15 GMT.
The Australian dollar under pressure after downbeat Australia Retail Sales data released earlier today.
Preliminary readings of Australia’s Retail Sales for February dropped way below 0.5% prior and 0.4% market consensus to -1.1% MoM.
Geopolitical fears emanating from China and North Korea and squabbles in Alaska meeting between the American and Chinese diplomats dents market risk.
AUD/USD trades with a neutral bias and price action is holding support at 50-DMA at 0.7739, breach below will test cloud support at 0.7679.
Violation below daily cloud will change near-term dynamics. On the flipside, decisive break above 20-DMA required for any meaningful upside.
