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Forex: AUD/JPY dips past 78.60

By FXstreet.com,  August 02, 2010, 10:16:00 PM EDT

FXstreet.com (Barcelona) - The Australian dollar dropped around 45 pips against the yen in recent trading, to reach a low at 78.54 following soft retail sales and building approvals data. In particular, retail sales came in at 0.2% compared to analysts' expectations of 0.3%, while building approvals fell to -3.3% over June despite predictions for 2%.

The AUD/JPY currently trades slightly consolidated at 78.68 yet remains fragile ahead of the anticipated RBA rate decision announcement. The final listed support is at 78.65 while resistance is listed at 78.84 and 79.04.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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