• The AUD/USD traded near two year low on Thursday as Australian dollar was pressured by stronger US dollar.
• The greenback held firm after Fed minutes highlighted expectations of slowing inflation but noted risks of persistent price pressures. Policymakers also weighed the potential impact of Trump’s policies on the economy.
•On the data front, Australian retail sales climbed 0.8% in November, driven by Black Friday discounts, but fell short of the expected 1.0% rise.
• At GMT 06:03, The Australian dollar was last trading down 0.24% to $0.6197.
• Immediate resistance is located at 0.6272(38.2%fib), any close above will push the pair towards 0.6349 (50%fib).
• Support is seen at 0.6180 (23.6%fib) and break below could take the pair towards 0.6131 (Lower BB)
Recommendation: Good to sell around 0.6220, with stop loss of 0.6320, and target price of 0.6130
