(VIANEWS) – AUD/USD rises half a percent to around 0.6440 as it prods the key upside hurdle after witnessing upbeat Australia Retail Sales. Adding strength to the Aussie pair’s rebound could be China stimulus and the US Dollar’s retreat ahead of this week’s key inflation and employment data.
FXStreet reported that that said, Australia’s seasonally adjusted Retail Sales for July rose to 0.5% MoM versus 0.3% expected and -0.8% prior.
However, late on Sunday, Australian Treasurer Jim Chalmers flagged expectations of witnessing substantially weaker Australian growth due to higher interest rates from the Reserve Bank of Australia (RBA) and China’s slowdown, which in turn prods the Aussie pair buyers.
AUD/USD (AUDUSD) has been up by 4.29% for the last 21 sessions. At 00:05 EST on Monday, 28 August, AUD/USD (AUDUSD) is $0.64.
Aud/usd rebound prods 0.6430 resistance amid firmer Australia retail sales, China stimulus news
It should be observed that the hawkish Fed talks and fears surrounding Aussie economic slowdown, as well as the dovish bias about the RBA, weighed on the AUD/USD pair in the last six consecutive weeks., A six-week-old falling resistance line, close to 0.6430 by the press time, restricts immediate upside of the AUD/USD pair even if the quote defends the previous week’s rebound from the downward-sloping support line from early March, around 0.6350 at the latest.
AUD/USD’s yearly highs and lows, it’s 4.129% up from its 52-week low and 12.682% down from its 52-week high.
Volatility
AUD/USD’s last week, last month’s, and last quarter’s current intraday variation average was a positive 0.01%, a negative 0.21%, and a positive 0.53%, respectively.
AUD/USD’s highest amplitude of average volatility was 0.45% (last week), 0.44% (last month), and 0.53% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, AUD/USD’s Forex is considered to be overbought (>=80).
Previous days news about AUD/USD (AUDUSD)
- Aud/usd stays defensive near 0.6400 amid mixed concerns about China, Australia retail sales eyed. According to FXStreet on Sunday, 27 August, “Looking forward, headlines surrounding China can keep entertaining the AUD/USD pair traders while Australia’s Retail Sales for July, expected 0.3% versus -0.8% prior, will be important to watch for intraday directions. “, “A downward-sloping support line from early March, around 0.6350 by the press time, restricts the immediate downside of the AUD/USD pair even if a six-week-old falling resistance line, close to 0.6430 by the press time, restricts the Aussie pair’s rebound.”
- Aud/usd stays defensive near 0.6400 amid mixed concerns about China, Australia retail sales eyed. According to FXStreet on Sunday, 27 August, “Looking forward, headlines surrounding China can keep entertaining the AUD/USD pair traders while Australia’s Retail Sales for July, expected 0.3% versus -0.8% prior, will be important to watch for intraday directions. “, “A downward-sloping support line from early March, around 0.6350 by the press time, restricts the immediate downside of the AUD/USD pair even if a six-week-old falling resistance line, close to 0.6430 by the press time, restricts the Aussie pair’s rebound.”
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