MoM expected +0.3% vs -0.1% last
The AUDUSD is trading near day lows. Later in the new trading day, the Retail sales will be released for March 2017 with the expectations of +0.3% vs -0.1% last. The Ex inflation QoQ is expected to rise 0.5% vs 0.9% last.
Technically, the price is down testing the 61.8% of the move up from the December 23 low. That comes in at 0.73846. The price low reached 0.7377 today. Lows from Friday's trading reached 0.73672. A move below and the pair is continuing to move toward the January/2017 low. That low was 0.7191, reached on the first day of the calendar month.
On the topside, the high yesterday and again today stalled near the 0.7425 level. The 100 hour MA is trading down to 0.74294 and moving lower. The 38.2% of the move down from the May 2nd high comes in at 0.7349. Get above and traders will be talking about the 2nd successful test of the 61.8%
