Filed Under:
Forex pairs in this Article » AUD/USD (Barcelona) - The Aussie dollar continues its correction lower on Wednesday, trading in session lows in the area around 1.0335/40
Softer-than-expected retail sales during December have collaborated with the downside, contracting 0.2% on a monthly basis vs. +0.3% forecasted.

Analyst Adrian Foster at Rabobank, commented, "These data feed directly into GDP and point to a weak contribution from consumption to the overall economy in 4Q& Tomorrow's Jobs report is an important signpost for thinking about prospective RBA policy moves".

As of writing, the cross is down 0.47% at 1.0341 with the next support at 1.0338 (low Nov.21).
On the flip side, a breakout of 1.0411 (daily cloud base) would expose 1.0420 (hourly high Feb.5) and then 1.0442 (MA10d).
comments powered by Disqus