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AUD/USD: downside prevails ahead of US retail sales

FXStreet (Moscow) - AUD/USD resumed the downside after a short period of consolidation around 0.9070 pivot. New intraday low is set at 0.9053.

More downside in store

Aussie is going to have its worst week of the year/ AUD/USD has lost about 300 pips since Monday on the back of USD strength across the board. Even eye-popping Australian employment data failed to reverse the bearish trend. Later during the day the focus will shift onto US retail sales numbers that are expected to show 0.6% of month-on-month growth. Another sign of positive developments within American economy might support USD rally and push AUD/USD towards current lows at 0.9052. If this support is broken, the downside might extend to 0.9030/20. Though don’t discard the possibility of profit-tal=king on short AUD/USD positions ahead of the weekend.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9136, with support below at 0.9052, 0.9004, and 0.8920 with resistance above at 0.9184, 0.9268 and 0.9316. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.9269 and the daily 20EMA bearish at 0.9280. Hourly RSI is bearish at 29.

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