AUDUSD loses yesterday’s daily gains and is currently trading at 0.67500 support for the third time since Monday. The Chinese Economic data which was released in today’s early sessions came out to be worst than expected which made the pair drop to 0.67500 support losing 0.78%. The retails sales for the month of July released by National Bureau statistics of china dropped to 7.6% from 8.6% expected and the Industrial Production dropped to 4.8% from 5.8% expected. The Aussie came under selling pressure after a renewed risk-aversion wave gripped Europe, with S&P 500 futures dropping -0.50% and Treasury yields nearly 1.5% across the curve.The European markets were at risk by growing German recession fears by the release of Chinese Retail Sales and industrial Production which let the Australian dollar experiencing downside pressure.The overnight optimism fueled after the US delayed the tariffs on some Chinese goods until December faded, as markets remain wary ahead of the US-China trade talks scheduled next month. In the 1 hour chart, the pair is short term rebound at 0.67500 support as of writing which may lead the pair to the next resistance at 0.67800. On the other side, the pair dropping below 0.67100 would lead the pair to the last week low at 0.66700. Tomorrow’s Australian Employment data and U.S Sales release will be eyed for a fresh impulsive move.

AUDUSD Today :

Daily open: 0.67959
Daily Last high: 0.68088
Daily Last Low: 0.67355
Daily current growth: -0.72%