Forex: AUD/USD trying higher post-China retail sales data

FXstreet.com (Barcelona) - As it just happened minutes before previous RBA meeting minutes, AUDUSD started moving to the upside few minutes before China retail sales were released moments ago, last at fresh session highs 1.0433 bids. Either if this is a result from some leaking in the data, nobody knows, but fact is both moves went in the right direction ahead of the release.

This way AUDUSD recovers Tuesday prices following much better than expected jobs data in Australia, still though below key resistance 1.0445. Retail sales in China show an increase year on year of +14.5% when 14% was expected, and a +9.6% industrial output y/y when +9.4% was expected. Urban investment figures also improve slightly over previous and expected consensus showing a 20.7% increase.

Immediate resistance to the upside for AUDUSD show at recent session highs 1.0435, followed by yesterday's highs 1.0444, and Wednesday's post-Obama reelection highs at 1.0480. To the downside, closest support lies at Wednesday's Asian session lows pre-Obama reelection at 1.0410, followed by yesterday's lows at 1.0382, and recent session lows post-RBA minutes at 1.0375.