Aussie dumped on dismal data, AUD/USD may test 200-DMA at 0.7746

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUD/USD hit 4-week lows of 0.7855 as Aussie was dumped across the board on dismal retail sales and trade data.
Australia retail sales dropped 0.5 percent in December, missing market expectations for a 0.2 percent drop.
Further, the trade balance recorded a deficit of AUD 1.36 billion in December compared to the AUD 0.2 billion surplus.
The pair has broken support at 38.2% Fib at 0.7893 and we see scope for test of next major support at 0.7825 (200W-SMA).
Violation there will see test of 0.7746 (nearly converged 200-DMA and 61.8% Fib).
Technical studies are highly bearish , focus now on RBA monetary policy decision for further impetus.
The RBA likely to stay pat, while commentary will be keenly watched for cues.

Support levels - 0.7825 (200W-SMA), 0.78, 0.7746 ( 200-DMA )
Resistance levels - 0.7893 (38.2% Fib retrace of 0.7501 to 0.8135 rally), 0.7952 (5-DMA), 0.7983 ( 20-DMA )

Good to go short on rallies around 0.7880/0.79, SL: 0.7985/ TP: 0.7825/ 0.78/ 0.7745
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out