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15 Aug 2017

AUD/USD drops to 4-week lows after US retail sales

AUD/USD dropped further during the American session weakened by a stronger US dollar. The greenback gained strength after the release of an upbeat retail sales report. The pair was already lower on the back of the minutes of the latest RBA meeting. 

Lower lows

During the American session, AUD/USD bottomed at 0.7806, the lowest since July 18. Afterward bounced modestly to the upside as the USD rally lost momentum. The recovery from the lows was capped below 0.7830 and currently trades at 0.7815/20. 

The Aussie is headed toward the fourth daily decline out of the last five days as it continues to decline from levels on top of 0.8000, it reached two weeks ago. 

The US dollar was rising before consumer data, support by rising US bond yields. The report showed that retails sales rose in July 0.6% above the 0.3% expected. Also, June numbers were revised higher. The strong report boosted the greenback and favored the continuation of the bearish correction in AUD/USD. US:

Consumer demand started the third quarter on a strong footing - Wells Fargo

RBA minutes: Further rise in AUD could lead to slower growth, lower inflation

Technical levels 

To the upside, resistance levels might be seen at 0.7820/25 (European session low), 0.7845 (Aug 14 low) and 0.7875 (daily high). On the flip side, support could be located at 0.7800, 0.7785 (Jul 18 low) and 0.7740/45 (Jul 13 high). 

Aug 15, 2017

NZD/USD headed for a break below the 0.72 handle?

Currently, NZD/USD is trading at 0.7241, down -0.63% on the day, having posted a daily high at 0.7314 and low at 0.7236. NZD/USD has stabliszed after
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Aug 15, 2017

USD/CHF reutrns to pre-data levels below mid-0.97s

After rising to a fresh session high at 0.9751 on the back of higher-than-expected retail sales data from the U.S., the USD/CHF retraced a portion of
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