Above-forecast Aussie retail sales push AUD/USD above 0.72
- Aussie prints session highs above 0.72 following a better-than-expected Aussie retail sales data release.
- The USD/CNH pair (offshore yuan exchange rate) is showing signs of life. That could be capping the upside in the AUD/USD pair.
The AUD/USD pair jumped to a session high of 0.7204 following the release of an upbeat Aussie retail sales data.
The consumption, as represented by retail sales, rose 0.4 percent month-on-month in November, beating the estimated print of 0.3 percent, according to Australian Bureau of Statistics (ABS). Tannualizedsed figure came-in at 3.6 percent.
Despite the above-forecast print, the AUD managed to add only 12 pips and is struggling to find acceptance above the psychological level of 0.72.
The upside is likely being capped by the minor bounce in the USD/CNH pair. Currently, that pair is trading 6.79, having clocked a low of 6.77 yesterday. Moreover, the offshore Chinese yuan - the anchor for FX markets - is looking overbought on the short duration technical charts.
Today Last Price: 0.7196
Today Daily change: 12 pips
Today Daily change %: 0.167%
Today Daily Open: 0.7184
Previous Daily SMA20: 0.7095
Previous Daily SMA50: 0.7188
Previous Daily SMA100: 0.7178
Previous Daily SMA200: 0.7333
Previous Daily High: 0.7198
Previous Daily Low: 0.7146
Previous Weekly High: 0.7125
Previous Weekly Low: 0.6684
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Previous Daily Fibonacci 38.2%: 0.7178
Previous Daily Fibonacci 61.8%: 0.7166
Previous Daily Pivot Point S1: 0.7153
Previous Daily Pivot Point S2: 0.7123
Previous Daily Pivot Point S3: 0.7101
Previous Daily Pivot Point R1: 0.7206
Previous Daily Pivot Point R2: 0.7228
Previous Daily Pivot Point R3: 0.7258