Free Trial

Drops From Session Highs

AUD

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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.