The AUD/USD has caught a much-needed bounce from near-term lows around 0.6340, and the pair is up over 1% after reclaiming the 0.6400 handle in Thursd
ay trading. The Aussie-Dollar pairing is currently taking a breather and marking in territory near 0.6420.
Australian Retail Sales came in below expectations early Thursday, printing at a seasonally-adjusted 0.2% for the month of August. The previous reading saw 0.5%, and the actual headline figure failed to meet market forecasts of 0.3%.US GDP for the second quarter printed as-expected at 2.1% over the previous quarter; Initial Jobless Claims improved slightly, from 202K to 204K.
The downside came from US Pending Home Sales for August, which clocked in an abysmal -7.1%, far below theAll that's left on the economic calendar data docket for the US Dollar is Friday's Personalbroke loose from recent intraday bearish action, jumping up a full percentage point to ping against the 200-hour Simple Moving Average near 0.6420.
Near-term technical resistance sits at the last swing high last week near 0.6460, and bidders will be looking to catch support from the 100-hour SMA currently drifting into the 0.6400 handle. The overall trend still remains firmly bearish, and the AUD/USD remains well off recent highs on the daily candlesticks. Price action will see resistance from the 34-day Exponential Moving Average just north of 0.6450, while downside momentum will see a support zone baked in at recent swing lows between 0.6400 and 0.6350.
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