The Australian dollar is effectively unchanged this morning when valued against the Greenback. The Aussie fell in early trade yesterday after a consumer confidence gauge triggered fresh concerns about a slowing economy. Australian Westpac Consumer Sentiment Index, which fell 4.8% in March to 98.8 from 103.8 in February, again below 100 and at its lowest level since September 2017.
Looking ahead today and we will see the release of Consumer Inflation Expectations by the Melbourne Institute for the month of March, previously at 3.7%. China will unveil January Retail Sales and Industrial Production, both seen increasing at a slower pace when compared to the previous month.
From a technical perspective, the AUD/USD pair is currently trading at 0.7093. We continue to expect support to hold on moves approaching 0.7060 while now any upward push will likely meet resistance around 0.7100.