• Data released earlier today showed that the Australian retail sales data came in below estimates, but poor data had little impact on Aussie bulls.
  
  
• Australia retail trade rose 0.3% in Jan, missing expectations for a growth of 0.4%. Meanwhile, Australian turnover rose 4.0% in January 2016 compared with January 2015.
  
  
• AUD/USD slightly lower from session highs at 0.7376, is currently trading around 0.7362 levels.
  
  
• The pair has broken next major resistance at 0.7320 levels (trendline connecting 0.7336 - Dec 1st high, 0.7334 - Dec 10th, 0.7327 - Dec 31st high).
  
  
• Doji formation is Asian session, technicals support further upside in the pair, momentum is higher.
  
  
• 0.7320 (trendline) is immediate support on the downside ahead of 0.7281 (Mar 3rd low) and then 0.7264 (5-DMA).
  
  
• On the upside resistances are located at 0.7382 (Oct 12th 2015 high) and then 0.7385 (Dec 4th 2015 high).
  
  
• Our call ( http://www.econotimes.com/FxWirePro-AUD-USD-takes-out-072-handle-after-upbeat-Australia-GDP-data-break-above-07250-could-see-further-upside-171062) is approaching target 3.
  
  
• Weakness only below 0.7250, advise holding for further gains.