AUD/USD bearish bias coming to light post retails sales miss?

Currently, AUD/USD is trading at 0.7350, down -0.07% on the day, having posted a daily high at 0.7369 and low at 0.7349.

Australia's Nov retail sales misses expectations

AUD/USD has lost a little wind out of its sails on the back of the recent retail sales data, exposing the downside in the Aussie economy again and putting the RBA's chill-out for summer policy into question. AUD/USD has otherwise been making a comeback this year so far, extending the bid from last years final attempts of a recovery from below the 0.72 handle and psychological threshold that gave in to the bulls and enabled a rally to aforementioned highs of 0.7373 while US rates come off and the bond market stabilises after the Trump fuelled rout and a exodus to stocks and riskier and higher yielding markets, predominantly denominated in the greenback thus supporting the case for a stronger dollar in 2017. 

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AUD/USD levels

Spot is presently trading at 0.7351, and next resistance can be seen at 0.7356 (Weekly High), 0.7357 (Daily Open), 0.7369 (Daily High), 0.7376 (Yesterday's High) and 0.7385 (Daily Classic R2). Next support to the downside can be found at 0.7349 (Daily Low), 0.7344 (Daily Classic R1), 0.7343 (Hourly 20 EMA), 0.7340 (YTD High) and 0.7316 (Daily Classic PP).