Aussie fell overnight on a combination of weaker than expected Retail Sales report (0.3% vs. 0.5% expected and -0.1% previous) and a sell-off in Chinese stock market. The pair followed through in European session and just broke the low that was put in place in April. US are on holiday today and the breakout will likely not extend very far in this low liquidity environment.

April low (0.7533) is backed with Weekly Support 2 (0.7527) and Daily Support 3 (0.7527). Below that, 0.75 level shall offer some support before 0.7450 (May 19th 2009 low, Monthly Support 2, 50's level).

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