Aussie dented on poor data, eyes 0.72 handle and below | December 6, 2018

Aussie dented by dismal data.

Australia Q3 GDP (Wed) arrived well below estimates, supporting the view that RBA will keep rates unchanged through 2019.

Today's unexpected miss in Australia's Trade Balance further weighs.

Markets brush aside positive Retail sales, pushing the pair lower.

AUD/USD on a downfall for the 4th straight session. Slips below all major supports.

Techs have turned bearish . Stochs and RSI sharply lower. MACD is showing a bearish crossover on signal line.

Break into cloud will see further weakness. Retrace above 110-EMA could see some upside.

Support levels - 0.72 (cloud), 0.7163 (61.8% Fib), 0.71 (78.6% Fib)

Resistance levels - 0.7251 (38.2% Fib), 0.7278 (110-EMA), 0.7298 (5-DMA)

Good to go short on upticks, SL: 0.7280, TP: 0.72/ 0.7165