- AUD/USD drops 0.16% on weak Aussie Retail Sales.
- The pair is still stuck in a two-week-long channel pattern.
AUD/USD is currently trading near 0.7750, representing a 0.16% drop on the day, having rallied for the third straight day on Thursday.
The losses seen at press time could be associated with the dismal Aussie Retail Sales data released at 00:30 GMT, which showed consumer spending declined more than expected in December.
However, despite the AUD's weakness, the immediate technical bias remains neutral. That's because the pair is still trapped in a channel pattern represented by trendlines connecting Jan. 6 and Jan. 14 highs and Jan. 11 and Jan. 18 lows.
A breakout would imply a continuation of the broader uptrend and shift risk in favor of a rally to 0.80. Alternatively, a channel breakdown would imply a bearish reversal.
|Today last price||0.7751|
|Today Daily Change||-0.0013|
|Today Daily Change %||-0.17|
|Today daily open||0.7764|
|Previous Daily High||0.7783|
|Previous Daily Low||0.774|
|Previous Weekly High||0.7806|
|Previous Weekly Low||0.7665|
|Previous Monthly High||0.7743|
|Previous Monthly Low||0.7338|
|Daily Fibonacci 38.2%||0.7767|
|Daily Fibonacci 61.8%||0.7757|
|Daily Pivot Point S1||0.7742|
|Daily Pivot Point S2||0.772|
|Daily Pivot Point S3||0.7699|
|Daily Pivot Point R1||0.7785|
|Daily Pivot Point R2||0.7805|
|Daily Pivot Point R3||0.7827|
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