Forex - AUD/USD down on economic data

Forex Pros – pros - The Australian Dollar was lower against the U.S. Dollar on Monday after the release of Australian data on Retail Sales.

AUD/USD was trading at 1.0736, down 0.31% at time of writing.

The pair was likely to find support at 1.0520, Wednesday’s low, and resistance at 1.0790, Friday’s high.

Earlier in the day, official data showed that Retail sales in Australia fell unexpectedly to a seasonally adjusted -0.6% last month from 1.1% in the preceding month.

Analysts had expected Australian retail sales to rise 0.3% last month.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.47% to hit 1.3551 and AUD/JPY falling 0.38% to hit 86.72.

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