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Short

AUD/USD sold-off on disapointing data, good to short rallies

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Aussie bears taking control after disappointing data from Australia earlier today.

Australia's Feb retail sales came at 0.0% m/m vs 0.4% expected and 0.3% last, a big miss. AUD/USD saw a 30 pip slump post data from 0.7668 levels to around 0.7638.

Technicals on 2-hourly charts indicated downside for the pair. Stochs and RSI are biased lower.

Strong support seen at 0.76 levels, breaks below could see test of 0.7555 ( trendline support). Resistance on the upside is seen at 0.7652 (5-DMA) and then session highs at 0.07678

Our previous call (link below) has hit all targets.

Good to sell rallies around 0.7635/40, SL: 0.77, TP: 0.76/0.7555
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