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

FX:AUDUSD   Australian Dollar / U.S. Dollar
230 0
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
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out