FXstreet.com (Barcelona) - The AUD/USD, despite having printed new session lows at 1.0435 ahead of the Aus retail sales, has been able to robustly recover to retest levels near session highs at 1.0475, after sales came at +1.0% in June M/M vs +0.5% in May M/M, with expectations at +0.7%. The Aus trade balance also came better-than-expected at AUD9m vs -AUD347m exp, with a large drops in imports to blame, despite exports also were lower. "Hourly resistance in the AUD/USD is found at 1.0480" says John Noonan, Head of IFR Markets, adding that if price manages to penetrate higher, it will most likely target 1.0500/30.
Forex: AUD/USD attacking 1.0480 resistance post Aus sales
Thu, Aug 02 2012, 01:41 GMT | FXstreet.com
AUD/USD May 24 at 12:24 GMT
0.9691/93 (-0.61%)
H0.9753 L 0.9647
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
