The Aussie dollar rose 0.30% against the most-traded currencies after the November Retail sales data hit the wires.
Australian retail turnover rose 1.2% in November 2017, this follows a 0.5% rise in October 2017 according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures.
AUDUSD spikes after November retail sales beats forecast. The 61.8 fib reaction seems at 0.7890 above this 0.7900 Oct 13 high exists.
A move above 0.7900 needed to strengthen further for 0.7940 and 0.7990.
Weekly trend remains between 0.7950-0.7800
While holding 0.7800/0.7790 bulls try to rally further. Alternatively, 0.7800 and 0.7735 is an open target, if price truncated the 0.7800.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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