AUD USD Fundamental Analysis 1
8/4/2016 1:12:16 PM
The AUD/USD Boosted over 0.7625 Having peaked near 0.7625 region, the AUD/USD pair now merges the latest move higher above 0.7600, finding limited inducement from poor Aus. retail sales data. Currently, the AUD/USD pair fell -0.26% to trade at fresh session lows of 0.7590, having failed to stand out above 0.76 handle. The AUD/USD pair stays well bid, even though moved-off highs, after the Australian retail sales data missed estimates and failed to influence the AUD bulls. Retail sales were a 0.1% higher in June compared with a month earlier, below market expectations for a 0.3% growth. Emphasis now moves towards the imminent US fundamentals, with the jobless claims and factory orders on sight today, while the highly influential NFP data will be published on Friday. The pair finds the immediate persistence at 0.7638 above which gains could be expanded to the next hurdle located at 0.7667. On the other hand, the immediate support located at 0.7588. Selling pressure is probable to increase below the last, dragging the Aussie to 0.7550/46.