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Dec 03 - 09:55 PM

AUD/USD - Muted Response To Modest Retail Sales Miss

By Andrew M Spencer  —  Dec 03 - 07:40 PM
  • -0.1% in a slow start, with Asia cautious ahead of U.S. payrolls

  • Retail sales came in at +1.4% against +1.6% expected - little initial impact

  • Impact of the coronavirus and lockdowns has reduced the impact of data

  • Charts; daily, weekly and monthly 5, 10 & 21 MAs track north

  • Unusual and very bullish setup - safe haven USD weakens across the board

  • Next significant resistance is 0.7516, 76.4% of the 2018-2020 fall

  • Close below 0.7376 10 DMA, a base this week would undermine topside bias

  • London 0.7410 low and NY 0.7449 high is initial support-resistance

    For more click on FXBUZ

aud dec 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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