The Australian Dollar (AUD) extended its run lower off Monday’s open against the US Dollar (AUD) dropping to 0.6570. A daily close below 0.6500 could signal a greater bearish tone and big dollar strength. How US Inflation Thursday prints will determine how the cross moves with predictions the report could show a rise to 2.6% y/y from 2.4%. Later in the week we also have Aussie jobs data to consider, expectations are for a no change from 4.1% and a drop to the number of employed for October.
Current Level: 0.6574
Resistance: 0.6800
Support: 0.6500
Last Weeks Range: 0.6511- 0.6687