The AUDUSD gapped lower as Chinese industrial production and retail sales data came weaker than expected to touch 0.7248 low. Year to date figures also missed expectations showing signs of a sluggish Chinese economy and thus giving a further slump to the AUD/USD. The AUD/USD will face a continued selling pressure as the pair cuts the support point 0.7235 to reach next support levels 0.7205 and 0.7165.
Alternatively, the RSI remains flat and the AUD/USD needs a push above 0.7308 in order to reverse back and trade higher toward 0.7325 and 0.7355 respectively.
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