The Australian Dollar (AUD) reached 0.6798 Friday coming within a whisker of the yearly high. Monday morning was a different story as markets figured out the aftermath of the Trump assignation attempt. Risk flow turned down with the safe haven US Dollar (USD) sought. The cross dropping to 0.6720 early Tuesday. US Retail Sales published at 0.0% although the headline consensus was for a drop of -0.3% in the month of June, US consumers are still spending despite signs of slowing in the economy. Tomorrow’s Australian employment data predicted at 4.1% should be bearish for the Aussie.
Current Level: 0.6730
Resistance: 0.6800
Support: 0.6570
Last Weeks Range: 0.6723- 0.6797