AUDUSD Chart Technical Outlook weakened on downbeat Australian retail sales, bears testing at 0.6515 with 0.6480 on focus.
The Aussie Dollar is trading under selling pressure on Thursday. Australian retail sales have disappointed, increasing concerns that the economy is losing pace, while the Dollar remains steady ahead of the release of the PCE Prices Index, due on Friday.
On Wednesday, Federal Reserve Governor Christopher Waller warned that the bank might keep interest rates higher for longer on the back of the sticky inflation. This is likely to keep USD downside attempts limited.
The pair is trading now at the bottom of a triangle pattern, testing trendline support at 0.6515 with the next targets at 0.6480 and a key support level at 0.6430. Resistances are 0.6575 and 0.6635.
