13 May 2015
AUD/USD reaches fresh 4-month high after US retail sales
FXStreet (Córdoba) - AUD/USD extended gains and reached a fresh 4-month high as the dollar weakened on the back off disappointing US retail sales data.
US retail sales were flat in April, while excluding autos sales rose by 0.1%, missing expectations of 0.2% and 0.5% increases for the headline and the core respectively.
The Australian dollar was already among the best performers on Wednesday when the recovery of the AUD/USD was fueled by weak US data. AUD/USD broke above 0.8050 and climbed to a high of 0.8096 in recent dealings.
At time of writing, the pair is trading at 0.8090, recording a 1.44% gain on the day. If the Aussie manages to break decisively above 0.8100, its could accelerate towards 0.8133 (Jan 22 high), which stands as immediate resistance.
US retail sales were flat in April, while excluding autos sales rose by 0.1%, missing expectations of 0.2% and 0.5% increases for the headline and the core respectively.
The Australian dollar was already among the best performers on Wednesday when the recovery of the AUD/USD was fueled by weak US data. AUD/USD broke above 0.8050 and climbed to a high of 0.8096 in recent dealings.
At time of writing, the pair is trading at 0.8090, recording a 1.44% gain on the day. If the Aussie manages to break decisively above 0.8100, its could accelerate towards 0.8133 (Jan 22 high), which stands as immediate resistance.