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Forex: AUD/USD slips to session lows on weak Aus retail sales data

Aussie slips to fresh session lows, last at 1.0373, on weaker than expected retail sales figures, down -0.2% for the month of Dec on a monthly basis, coming from a previous of -0.1% (revised to -0.2%), making it fourth consecutive decreasing data since Oct. The Aus retail trade for the 4Q comes at +0.1% with previous revised down from -0.1% to -0.3%.

The pair prints fresh weekly lows at 1.0366, just 6 pips above from Friday's 1-month lows at 1.0360. Aussie had been holding pretty well these last days, but now is weakest currency among majors only above Pound and Yen. Against EUR is back to initial weekly prices, last at 1.3097, recovering from yesterday's weekly lows at 1.2898.

Immediate support to the downside for AUD/USD lies at Friday's 1-month lows 1.0360, followed by Nov 21 lows at 1.0333, and Dec 25 lows/200 day SMA at 1.0319/09. To the upside, closest resistance shows at Jan 28/31 lows 1.0379/83, followed by Jan 25 lows/recent session highs at 1.0402, and NY session highs at 1.0417.

Australian retail sales Dec under-delivers; heightened expectations RBA cut

Retail sales in Australia came much lower-than-expected, down 0.2% in December vs a +0.3% rise analysts had been calling for. To make it worse, previous month -0.1% was revised lower to -0.2%.
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