AUD/USD below 1.0300 ahead of AU retail sales

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AUD/USD below 1.0300 ahead of AU retail sales

FITITOL--> FXstreet.com (Barcelona) - AUD/USD is currently retreating at 1.0284 from fresh 8-week highs yesterday by early NY at 1.0296, higher since previous Asia-Pacific open yesterday by +0.31%. AIG services index released minutes ago showed better than previous data at 48.8 vs 43.5. Key data ahead comes in the form of AU retail sales at 01:30 GMT. US markets will be close for the day on holidays.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the overall stance for the pair is bullish despite the hourly chart lacks upward momentum at the time being. In the 4 hours chart indicators hold in extreme overbought levels, with momentum aiming slightly lower, yet price holding near the highs, denying short term chances of a slide,” Valeria says, adding: “Main target for the pair is the 1.0360 area, 61.8% retracement of this year slide.”

Support levels show at: 1.0250 1.0220, and 1.0180, while resistance levels come at: 1.0290 1.0315, and 1.0360.