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5 Feb 2015
AUD/USD retail sales weighing in on the Aussie
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7755 with a high of 0.7779 and a low of 0.7749.
The awaited Retails Sales were released from the Australian economy and came 0.2% vs 0.4% expected for Dec and vs 0.1% last. AUD/USD dropped on the release of the data and headed towards the lows for the Asian session. The major remains in a consolidated phase despite the data but within the bearish trend.
Meanwhile, for the levels, Karen Jones, chief analyst at Commerzbank explained that AUD/USD has halted just ahead of the base of the 2013- 2015 down channel at 0.7597. "This is holding currently for a small rebound. We note the divergence of the RSI. Initial resistance is 0.8034 (7th Jan low). Key resistance is the 0.8130 downtrend. A close above here is needed to alleviate the bearish pressure."
The awaited Retails Sales were released from the Australian economy and came 0.2% vs 0.4% expected for Dec and vs 0.1% last. AUD/USD dropped on the release of the data and headed towards the lows for the Asian session. The major remains in a consolidated phase despite the data but within the bearish trend.
Meanwhile, for the levels, Karen Jones, chief analyst at Commerzbank explained that AUD/USD has halted just ahead of the base of the 2013- 2015 down channel at 0.7597. "This is holding currently for a small rebound. We note the divergence of the RSI. Initial resistance is 0.8034 (7th Jan low). Key resistance is the 0.8130 downtrend. A close above here is needed to alleviate the bearish pressure."