• AUD/ USD held near one year low on Friday as dollar found support after US Nov PPI rose more than expected.
• According to a Labor Department data released Thursday, showed producer prices increased by 0.4% month over month in November, versus an estimated 0.2% increase.
• Markets are now almost fully pricing a 25 basis point cut at the Fed's meeting on December 17-18, compared to about a 78% possibility a week ago.
• At GMT 06:27, The Australian dollar was last trading down 0.19% to $0.6355, down 0.3% for the week.
• Immediate resistance is located at 0.6391(Daily high), any close above will push the pair towards 0.6426(38.2%fib).
• Support is seen at 0.6369(23.6%fib) and break below could take the pair towards 0.6339(Lower BB).
Recommendation: Good to sell around 0.6380, with stop loss of 0.6480 and target price of 0.6300.
