The Australian Retail Sales Report measures changes in sales in the retail sector of the Australian economy. Percentage changes reflect changes in sales such as these, and changes are followed by the Reserve Bank of Australia as an indicator of the cost of customer spending. Typically, positive economy growth is bullish for the Australian dollar, while low forecast generally viewed as negative or bearish for the AUDUSD dollar.

The AUDNZD pair is only bullish while trading above the 1.0700 level, key resistance lies at the 1.0780 and 1.0850 levels.

If the AUDNZD pair moves below the 1.0700 level, sellers may test the 1.0650 and 1.0600 levels.

That's all for today, happy trading :)

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FOMC TONE Technical Analysis, Monday, July 5, Australian Retail Sales