Forex: AUD/USD erases losses after US data

Commodity currencies, but specially the CAD, benefitted from better than expected US retail sales, and managed to advance against the greenback. AUD/USD bounced from daily lows just beneath 1.0300 and erased losses climbing to the 1.0320 zone.

The Australian dollar is currently trading around 1.0320/25, where it is virtually unchanged since opening, having being rejected from a high of 1.0333 and supported by 1.0300.

In terms of technical levels, the Mataf.net analyst team locates next resistances at 1.0335, 1.0350 and 1.0365, while they locate supports at 1.0300, 1.0265 and 1.0235.