FxWirePro: Aussie falls after lower than expected retail sales data

• AUD/NZD is trading around 1.1078 marks.
   
• Pair made intraday high at 1.1139 and low at 1.1074 marks.
   
• The Australia’s MI Inflation Gauge suggests that the CPI was flat March, after falling 0.2% in February and rising 0.4% in January.
   
• In addition, Australia released retail sales data with negative numbers at 0.0% m/m vs 0.3% m/m previous release.
   
• On the other side, Australia’s building approval rose to 3.1% m/m vs -6.6% m/m previous released.  
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 1.1062 will take the parity down towards 1.1016/ 1.0934 marks.
   
• On the other side, a sustained close above key resistance at 1.1123 will drag the parity up towards 1.1298/1.1352/1.1590 marks.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.