FxWirePro: AUD/USD retraces from session lows, Aussie finds bids following big beat on Australian Retail Sales
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FxWirePro: AUD/USD snaps six-day winning streak, coronavirus resurgence fears keep the pair depressed
AUD/USD chart - Trading View
AUD/USD snaps 6-day winning streak and edges lower for the second straight session.
The major was trading 0.09% lower on the day at 0.6940 at 04:10 GMT after closing 0.38% lower in the previous session.
The coronavirus (COVID-19) resurgence in top-tier global economies, including Australia weigh on the risk barometer.
Furthermore, the RBA’s grim economic outlook added to the weakness in the AUD/USD pair.
Major trend remains bullish. Pullbacks are likely to be shallow. 21-EMA is strong support. Major weakness only below 200-DMA.
Major Support: 0.6888 (21-EMA)
Major Resistance: 0.7064 (June 10 high)