The Australian dollar was under pressure after inflation figures disappointed, dropping to the lowest levels in three months. Trade balance and retail sales stand out as we turn the page to November. Here are the highlights of the week and an updated technical analysis for AUD/USD.
Australian inflation failed to meet expectations in Q3, rising by only 0.6% q/q. This sent AUD/USD to the lowest levels in three months. In the US, the dollar enjoyed speculation about the next Chair of the Fed; it will not be Yellen and this supported the greenback. US data was positive as well.
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
