Australian dollar fell and government bonds rose after a government report showed retail sales unexpectedly declined, indicating two interest-rate increases this year may be slowing economic growth.
Tech View:
AUD is expected to be on downtrend for the day. the currency is trading below the fast moving averages signaling for downward movement. support is seen 0.94860 levels and holds resistance at 0.95760 levels. trading range is expected between 0.94870-0.95700 levels. stochastic is trending downwards and supports the bear note. momentum remains flat thereby supporting neither side. yet chart pattern indicates the bear note to continue for the day.
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