AUD/USD chart - Trading View
AUD/USD has slipped below 0.76 mark and was trading 0.09% lower on the day at 0.7592 at around 05:00 GMT.
The Australian dollar remains depressed after downbeat Australia Retail Sales data and a cautiously optimistic RBA's statement.
Data released earlier on Friday showed Australia’s Retail Sales for December printed at -4.1% MoM versus -4.2% preliminary readings and +7.1% previous readings.
In its SOMP, the RBA said, the Bank does not expect to hit its inflation & jobs goals until 2024 at the earliest, hinting that interest rates are unlikely to rise any time soon.
Markets remain cautious ahead of the US Non-farm Payrolls report for January. A larger-than-expected decline in U.S. jobless claims overnight raise expectations of a positive surprise on Friday's NFP.
Near-term technical bias has turned bearish. Price action has slipped below 50-DMA. Next major major support lies at daily cloud at 0.7529.
Momentum indicators are biased lower. Volatility is rising. Break into daily cloud will drag prices lower.
