• The Australian dollar surged, extending gains for the fourth straight session after China announced a cut in tariffs on some imported goods from the United States.
   
• The major was also supported by data showing Australian exporters had another solid month in December, suggesting exports too added to GDP growth in the December quarter.
   
• However, the upisde appears limited as separate data showed retail sales dropped 0.5 percent in December, the worst monthly performance since August 2017. 
   
• The Aussie was trading 0.1 percent up at 0.6749, having hit a high 0.6774 on Wednesday, its highest since Jan. 29. 
   
• Technical indicators are turning bearish: RSI weak at 38.26 and MACD supports downside.
   
• Stochs are biased higher, minor recovery likely. 
   
• Immediate resistance is located at 0.6799 (21-EMA), a break above could take it near 0.6818. 
   
• On the downside, support is seen at 0.6716 (5-DMA), a break below could drag it till 0.6690.