• -0.2%, in a busy 0.7038-0.7065 D3 range after very weak retail sales

• Retail sales fell 3.9%, median forecast -0.3% as cost of living hits

• Knee jerk 0.7038 AUD dip on data, then settled around 0.7050

• RBAWATCH 25pt Feb 7 hike 90%, but June implied slipped from 67bp to 62bp

• Charts; momentum studies crest, 21 day Bollinger bands head higher

• 5, 10 & 21 daily and weekly moving averages all climb - net bullish setup

• Break of 0.7136 August high would target a test of the 0.7282 June top

• Close below 0.6957 rising 21 day moving average would end topside bias

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