- Equities keep Aussie better bid, but the upside in AUD/USD is being capped by 50-day MA.
- Focus on the US retail sales.
The currency pair found bids in Asia as the Asian equities ticked higher, tracking the 0.5 percent rise in the S&P 500 futures. Moreover, the investors seem to have taken a heart from the fact that US-led strikes on Russia did not invite Russian retaliation.
Still, a convincing break above the 50-day moving average (MA) resistance lined up at 0.7781 remains elusive. That said, the bulls may come in strong if the risk-on action picks up the pace in Europe and US session.
Eyes US retail sales
The consumer spending as represented by retail sales is expected to rise 0.3 percent month-on-month in March vs 0.1 percent contraction in February. A better-than-expected data could put a bid under the greenback. The data is due at 12:30 GMT.
AUD/USD Technical Levels
As of writing, the currency pair is trading at 0.7775. A convincing move above 0.7781 (50-day MA) would open up upside towards 0.7810 (previous day's high) and 0.7724 (200-day MA). On the downside, breach of support at 0.7760 (ascending 5-day MA) would expose support seen at 0.7738 (April 12 low) and 0.77 (psychological level).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.