Yesterday the pair significantly strengthened amid falling US Dollar that was pressured after the publication of poor data on Jobless Claims in the US. At the same time, despite increased Home Loans in Australia, that usually supports the AUD the pair is falling today.
Today extra attention needs to be paid to data on Retail Sales in the US. According to forecasts, the index will fall to 0.0% that might pressure the USD.
Support and resistance
On the , the pair is trading near the lower MA of . Moving averages with 50, 100 and 144 periods remain above the price and directed down indicating a downward trend in the pair. histogram is in the negative zone and its volumes are slowly growing.
Support levels: 0.6935, 0.6910, 0.6880, 0.6830, 0.6800.
Resistance levels: 0.6983, 0.7015, 0.7068, 0.7135, 0.7194.
Open short positions after the price consolidation below the level of 0.6860 with the target at 0.6800 and stop-loss at 0.6890.
Long positions can be opened form the level of 0.6935 with the target at 0.7000 and stop-loss at 0.6900.
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