AUDUSD Sees A Selling Opportunity Ahead Of Australia Retail Sales Data

Forex_AUD-6598-1

Australian Bureau of Statistics will report on Retail Sales early Friday at 00:30 GMT. The forecast is to rise by 0.4%, from 0.0% a month earlier. How can this economic data affect the AUDUSD?

AUDUSD: Bearish Eyes The 0.6810 Levels

The outlook in AUDUSD remains on the downside as long as 0.6890/0.6940 resistance holds on a daily closing basis. Support comes 0.6858 levels. A cut below support aims 0.6810 levels. A halt is likely, it may test 0.6858 before attempts to break lower. Anyway; Below 0.6810 sess further weakness to 0.6750 levels. The next support comes at 0.6685 levels.

On the upside, resistance comes at 0.6890 level ahead of 0.6940 level (main). Above 0.6940 sees recovery threats 0.6975/0.7005 levels.

Any rebound below 0.6940 is a selling opportunity.

In conclusion: The AUDUSD sess downside threats below 0.6940 levels.

Support: 0.6858, 0.6810, 0.6750, 0.6685

Resistance: 0.6890, 0.6940, 0.6975, 0.7005

AUDUSD Sees A Selling Opportunity Ahead OF Australia Retail Sales Data

Note that the U.S will report on Nonfarm Payrolls & Unemployment Rate tomorrow at 13:30 GMT.

MARKET DATA

UPCOMING ECONOMIC EVENTS