China has released April activity data including Retail Sales , with a consensus -6.6% for the year versus -3.5% in March. The disappointing data reversed the AUDUSD pair , dripping back towards 0.69.
The Absence of any major updates on that front over the weekend , however, seemed to have paused the pairs buyers.
Technically , AUDUSD traders will keep their eyes on risk catalyst, mainly inflation, China and Russia. AUDUSD bulls may need validation from January’s bottom surrounding 0.6965 to convince short term buyers. A breach of 0.69 would sink the pair to a multi- month low near 0.683
This is an article not financial advice always do your own research
If you have any questions you can write it in the comments below and i will answer them
And please dont forget to support this idea with your like and comment. Thank you.
The Absence of any major updates on that front over the weekend , however, seemed to have paused the pairs buyers.
Technically , AUDUSD traders will keep their eyes on risk catalyst, mainly inflation, China and Russia. AUDUSD bulls may need validation from January’s bottom surrounding 0.6965 to convince short term buyers. A breach of 0.69 would sink the pair to a multi- month low near 0.683
This is an article not financial advice always do your own research
If you have any questions you can write it in the comments below and i will answer them
And please dont forget to support this idea with your like and comment. Thank you.
