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The biggest Australian retail sales miss in four years and dovish talk by RBA's Harper appears to be have been already swept under the carpet. Latest inflation data from China and surging copper prices are supporting the current momentum.
AUD/USD break below 0.78 level didn't last for long as previous strong resistance area between 0.77 and 0.78 proved to be a strong support now. 0.80 is the next target with 50 DMA the initial resistance. 0.78 should now hold or else we might see another attempt at the lows.
AUD/USD break below 0.78 level didn't last for long as previous strong resistance area between 0.77 and 0.78 proved to be a strong support now. 0.80 is the next target with 50 DMA the initial resistance. 0.78 should now hold or else we might see another attempt at the lows.
