FxWirePro: Aussie falls after lower than expected retail sales data
AUD/NZD is trading around 1.1078 marks. Pair made intraday high at 1.1139 and low at 1.1074 marks. The Australia’s MI Inflation Gauge suggests that the CPI was flat March, after falling 0.2% in February and rising 0.4% i…
Pair made intraday high at 1.1139 and low at 1.1074 marks.
The Australia’s MI Inflation Gauge suggests that the CPI was flat March, after falling 0.2% in February and rising 0.4% in January.
In addition, Australia released retail sales data with negative numbers at 0.0% m/m vs 0.3% m/m previous release.
On the other side, Australia’s building approval rose to 3.1% m/m vs -6.6% m/m previous released.
Intraday bias remains bearish for the moment.
A daily close below 1.1062 will take the parity down towards 1.1016/ 1.0934 marks.
On the other side, a sustained close above key resistance at 1.1123 will drag the parity up towards 1.1298/1.1352/1.1590 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
