Is it the end of the Australian dollar's rally? After three days of gains, it is down by 0.43% today

AUD/USD drops from 0.6782 to 0.6753, losing 29 pips (0.43%) today.

The Australian dollar is currently trading at 0.6753 following the release of EIA Short-Term Energy Outlook data from the United States.

Nonetheless, encouraging indicators for the Australian dollar published earlier when new Retail Sales data from Australia matched market expectations with a reading of 0.4% — a positive step in contrast to previous data of 0.2% from last month.

Meanwhile, Australia Building Approvals (MoM) (Mar) came out at -0.1, while a consensus of analysts was expecting three. Australia NAB Business Confidence (Apr) released yesterday at 01:30 UTC with a figure of zero, while the previous figure was -1.

In the meantime, negative performances are seen in other pairs, EUR/USD closed at 1.0957 (down 0.46%). EUR/GBP descends 0.38% to trade around 0.8685.

Though Aussie-Dollar has been dropping, other pairs have been performing better: USD/SGD rises 0.26% to trade around 1.328.

Some optimism can drawn from the fact that tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million.

Furthermore, Australia Westpac Consumer Sentiment (May) is expected tomorrow at 01:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.

Having established significant support at 0.6213 approximately 6 months ago, Aussie-Dollar's share price has bounced 9.16% higher.