AUD/USD is trading in the red at 0.7736 level after reaching a new high of 0.7761. A minor decline is natural and expected after the sharp rally. USDX’s further decline helped the Aussie to appreciate versus the greenback.

Surprisingly or not, the USD dropped further even though the US data came in better than expected in the last days. The Retail Sales registered a 9.8% growth beating 5.8% expected, the Core Retail Sales increased by 5.1% more than 8.4% estimates, while the Unemployment Claims dropped unexpectedly lower from 769K to 576K.

Today, the US is to release the Prelim UoM Consumer Sentiment, Housing Starts, and the Building Permits. Better than expected data could push the greenback higher during the day.

AUD/USD Minor Decline!


The pair ended its corrective phase after failing to reach the 50% retracement level. It’s a breakout above the red downtrend line and above the weekly R1 (0.7666) announced a strong swing higher.

Now is retesting the median line (ML) of the major descending pitchfork after being rejected by the R3 (0.7756).

Stabilizing above the median line (ML) could bring a new bullish opportunity. Actually, jumping and stabilizing above the R3, a new higher high is seen as a bullish signal.

On the other hand, dropping below 0.7705 former low could signal a deeper retreat in the short term.

AUD/USD Outlook!

A bullish closure above R3 (0.7756) on the H4 chart could represent a new bullish opportunity with a first upside target at 0.7800.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.