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May 26 - 11:55 PM

AUD/USD - Bid As Retail Sales Suggest Confident Consumers

By Andrew M Spencer  —  May 26 - 10:10 PM

  • +0.45%, bid after retail sales came in as expected at +0.9% nAZN05GLEK

  • Demand led by sales of holidays, and a return to cafes and restaurants

  • Data suggests that Australia is moving back to living pre COVID normal

  • Fresh 0.7135 trend high - poised below 0.7146, 38.2% of the 2022 fall

  • Charts; neutral momentum studies, 5, 10 & 21 DMAs base or climb

  • 21 day Bollinger bands flat line - net a modest positive setup

  • Sustained 0.7150 break would target 0.7217 upper 21 day Bolli band

  • Asian 0.7090 low today is initial support

For more click on FXBUZ


aud 2 May 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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