AUD/USD Outlook (5 December 2019)
2019-12-05 12:13:58
Overall, AUD/USD is trending downwards. This morning, the Australian dollar weakened after the release of the worse than forecasted Australian retail sales m/m data (Actual: 0.0%, Forecast: 0.3%, Previous: 0.2%) this morning.
AUD/USD’s next support level is at 0.67700 and the next resistance level is at 0.69200.
With the recent poor GDP and retail sales data, look for short-term selling opportunities of AUD/USD.