Australian Retail Sales 0.3% Vs 0.4% Forecast,AUDUSD vulnerable to the downside !

forex goods min
forex goods min

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

Australian Retail Sales fell from 0.7% to 0.3%  in the previous month, analysts had expected Australian Retail Sales to stand around 0.4% last month…

This development should keep the AUDUSD under pressure, especially after (RBA) rate cut 2 days ago. Resistance comes at the psycho level 0.8000, sustained breakout – daily closing – above the 0.8000 levels is needed to restore the upside momentum If seen focus will be the 0.8075/0.8125 levels ahead of the 0.8250 levels…

A failure to hold above the 0.8000 levels on a daily closing basis could main a return to the 0.7862 levels ahead of the 0.7765 levels…

 

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