AUD/USD dropped significantly in the morning as the Australian data have disappointed. The Retail Sales have increased only by 0.0% in July, less versus the 0.2% estimate, while the Trade Balance dropped from 0.89B to 0.46B, even if the economists have predicted an increase to 0.93B.
Price failed to approach and reach the 0.8027 Tuesday’s high, signaling that the bulls are exhausted. Technically, a drop towards the lower median line (lml) is expected in the upcoming days.
