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AUD/USD coming under fresh pressure after retail sales fell more than expected, the preliminary June print showed retail sales fell 1.8% against a consensus 0.7% decline. Also weighing on the pair is the announcement that there were 110 new COVID-19 cases in NSW in the past 24 hours.
- AUD/USD has slipped to 0.7326 from intraday highs of 0.7340. Support is seen at 0.7300/04, the July 8 low/ 1.236 proj of Feb 25 - Apr 1 - May 10 price swing, below here the 2.0% 10-dma envelope at 0.7298 awaits, a break of which opens up the Nov 24 2020 low of 0.7284.