AUD/USD found some room on the high side on Monday after US markets dark for the Memorial Day holiday left the Greenback on the low side, propping up the Aussie and extending Friday’s recovery into a second day.
AUD/USD pushes for a second day of recovery after near-term rebound. Australian Retail Sales on the offer early Tuesday. US long weekend holiday leaves Monday volumes thin. AUD traders will be looking ahead to Tuesday’s Australian Retail Sales in April, while US Personal Consumption Expenditure inflation data looms ahead later in the week. Australian MoM Retail Sales in April are expected to recover to 0.2% after the previous month’s 0.4% decline.
If the number comes out higher, inflation remains a key problem for the US and could shatter risk appetite, while a lower-than-expected print will send investor sentiment soaring. AUD/USD technical outlook Despite getting knocked back below 0.6700 last week, the Aussie remains on the high side of the 200-day Exponential Moving Average at 0.6575. The pair has been holding on the bullish side since recovering from a swing low into 0.
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