FxWirePro: Aussie rises on the back of higher than expected retail sales data, RBA’s cash rate decision in focus
Tuesday, May 7, 2019 1:44 AM UTC
- AUD/NZD is currently trading around 1.0590 marks.
- Pair made intraday high at 1.0593 and low at 1.0560 marks.
- Intraday bias remains bullish till the time pair holds key support at 1.0557 mark.
- A sustained close above 1.0587 will drag the parity higher towards key resistances around 1.0642, 1.0758, 1.0822, 1.0882 and 1.0951 levels respectively.
- Alternatively, a daily close below 1.0557 will take the parity down towards key supports around 1.0532/1.0449/1.0364/1.0275/1.0237/1.0192 marks respectively.
- Australia March 2019 retail sales mm decrease to 0.3 % (forecast 0.2 %) vs previous 0.8 %.
- Australia March 2019 trade balance G&S (A$) increase to 4949 aud (forecast 4300 aud) vs previous 4801 aud.
- RBA will release cash rate decision at 0430 GMT.