FxWirePro: Aussie falls in early hours of Asia on the back of lower than expected retail sales data
AUD/NZD is currently trading around 1.0609 marks. Pair made intraday high at 1.0633 and low at 1.0591 marks. Intraday bias remains neutral till the time pair holds key resistance at 1.0623 levels. On the top side, a sust…
Pair made intraday high at 1.0633 and low at 1.0591 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1.0623 levels.
On the top side, a sustained close above 1.0623 will drag the parity higher towards 1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.05 mark will take the parity down towards key supports around 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
Australia’s June retail sales m/m decrease to 0.1 % (forecast 0.4 %) vs previous 0.2 %.
Australia’s Q2 retail trade decrease to 0.4 % (forecast 0.5 %) vs previous 0.5 %.
