FXstreet.com (Barcelona) - Retail sales data in Australia have posted an unexpected and disappointing contraction of 0.1% in December vs. an estimated increase of 0.2% and coming from flat growth in November.
The cross has been falling since the opening session in Asia also weighted by the negative market sentiment surrounding Greece.
The RBA will hold its monetary policy meeting tomorrow. Market consensus expects a 25bps cut in the overnight interest rate, which could cap further upside in the AUD, also helped by the renewed concerns regarding the euro zone and some poor domestic data.

At the moment the cross is down 0.36% at 1.0712, facing support levels at 1.0672 (low Feb.3) followed by 1.0569 (low Feb.1) then 1.0528 (low Jan.30) and 1.0428 (low Jan.24).
On the upside, a breakout of 1.0794 (high Feb.3) would bring 1.0831 (Upper Bollinger) then 1.0909 (prev daily sup now res) and 1.1008 (high Aug.2).