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13 May 2013
Forex: AUD/USD retests lows after US retail sales
FXstreet.com (Córdoba) - The US dollar strengthened across the board and dragged AUD/USD back to lows after data showed US retail sales grew 0.1% in April, beating expectations of a 0.3% decline.
However, AUD/USD found once again support at 0.9952, where the pair scored an 11-month low earlier on the day. At time of writing, AUD/USD is trading around 0.9965/70, still down 0.3% on the day.
As for technical levels, if AUD/USD breaks decisively below 0.9950, next supports are seen at 0.9922 (low Jun 14) and 0.9900 (psychological level). On the other hand, resistances could be found at 1.0010 (daily high) and 1.0095 (high May 10).
However, AUD/USD found once again support at 0.9952, where the pair scored an 11-month low earlier on the day. At time of writing, AUD/USD is trading around 0.9965/70, still down 0.3% on the day.
As for technical levels, if AUD/USD breaks decisively below 0.9950, next supports are seen at 0.9922 (low Jun 14) and 0.9900 (psychological level). On the other hand, resistances could be found at 1.0010 (daily high) and 1.0095 (high May 10).