Australian Dollar (AUD), US Dollar (USD) action since mid-November remains range bound with swings between 0.6440 and 0.6540. Falling from the 0.6500 level off the weekly open the AUD reached 0.6441 before pushing back into Tuesday trading to 0.6485 as US JOLTS data released higher than expected. Earlier Aussie Retail Sales came in hot for October at 0.6 against September’s 0.1% with household goods the big mover up 1.4%. Also of note, Chinese Manufacturing data continues to improve based on recent figures with could also be supporting the AUD amid poor global economic growth. Non-Farm Payroll releases Saturday morning with another decent release of the change in employed people in November expected. We predict a retest at 0.6440 support.
Current Level: 0.6485
Resistance: 0.6535
Support: 0.6440
Last Weeks Range: 0.6433- 0.6548