AUD/USD drops 0.16% on weak Aussie Retail Sales. The pair is still stuck in a two-week-long channel pattern. AUD/USD is currently trading near 0.7750, representing a 0.16% drop on the day, having rallied for the third straight day on Thursday. The losses seen at press time could be associated with the dismal Aussie Retail Sales data released at 00:30 GMT, which showed consumer spending declined more than expected in December. However, despite the AUD’s weakness, the immediate technical bias remains neutral. That’s because the pair is still trapped in a channel pattern represented by trendlines connecting Jan. 6 and Jan. 14 highs and Jan. 11 and Jan. 18 lows. A breakout would imply a continuation of the broader uptrend and shift risk in favor of a rally to 0.80. Alternatively, a channel breakdown would imply a bearish reversal. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/IDR: Indonesian rupiah battles 14,000 on BI Warijiyo’s comments FX Street 2 years AUD/USD drops 0.16% on weak Aussie Retail Sales. The pair is still stuck in a two-week-long channel pattern. AUD/USD is currently trading near 0.7750, representing a 0.16% drop on the day, having rallied for the third straight day on Thursday. The losses seen at press time could be associated with the dismal Aussie Retail Sales data released at 00:30 GMT, which showed consumer spending declined more than expected in December. However, despite the AUD's weakness, the immediate technical bias remains neutral. That's because the pair is still trapped in a channel pattern represented by trendlines connecting Jan. 6 and Jan.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
