FxWirePro: AUD/USD heads deeper into bear territory as downbeat retail sales weighs on Aussie
AUD/USD declined to trade in lower range on Tuesday as firmer dollar across the board and downbeat Australian retail sales data weakened Australian dollar. Australian retail turnover for March, released by the Australian…
AUD/USD declined to trade in lower range on Tuesday as firmer dollar across the board and downbeat Australian retail sales data weakened Australian dollar.
Australian retail turnover for March, released by the Australian Bureau of Statistics showed retail sales dipped 0.1 percent in March, against forecasts of a gain of 0.3 percent.
The pair made session low at 0.7327 but recovered slightly to trade at 0.7347 levels in afternoon US session.
The pair remains under bears control unless until it trades below 0.7405 resistance level, therefore it is good to sell this pair on rallies.
To the upside, immediate resistance can be seen at 0.7355, a break above this level would take the pair towards next resistance level at 0.7405.
To the downside immediate support can be seen at 0.7309, a break below this level will open the door towards next level at 0.7286.
