Everything is going against the Australian dollar. The latest blow came from the publication of retail sales. The volume of sales in April dropped by 0.1% against expectations for +0.3%. To add insult to injury, the figure for March was revised down by 0.1%. Year over year, consumption is up 2.1%. By another measure, q/q sales rose by a modest 0.1% instead of 0.5% expected. The disappointing domestic news joined worrying signs from China. Here are 5 reasons for the previous AUD/USD crash. We have new ones coming on a daily basis. AUD/USD now trades at 0.73743, the lowest since the early days of 2017. After breaking out of range, The Aussie seems to be in a free-fall after losing the 0.7440 level that held it up for some time. Further support awaits at 0.7310, which was a swing low in November 2016. Even lower, 0.7250 could serve as a cushion ahead of the ultimate support line at 0.7160. On the topside, AUD/USD could face resistance at 0.7375, a support line back in November. 0.7440 remains significant. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Elliott Wave Analysis: Triangle Pattern on The USDCHF Indicates Gregor Horvat 6 years Everything is going against the Australian dollar. The latest blow came from the publication of retail sales. The volume of sales in April dropped by 0.1% against expectations for +0.3%. To add insult to injury, the figure for March was revised down by 0.1%. Year over year, consumption is up 2.1%. By another measure, q/q sales rose by a modest 0.1% instead of 0.5% expected. The disappointing domestic news joined worrying signs from China. Here are 5 reasons for the previous AUD/USD crash. We have new ones coming on a daily basis. AUD/USD now trades at 0.73743, the lowest since… 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.
