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AUSSIE: AUD/USD drops upon the release of the minutes from the RBA's Nov
monetary policy meeting. The document revealed that members agreed "a case could
have been made to ease policy at this meeting," but this time they judged to the
contrary, wary of potential adverse effect on savers and sentiment. The Board
decided to "make another full assessment once more evidence of the effects of
the earlier monetary easing had become available."
- AUD/USD last deals at $0.6792, 18 pips worse off. The 50% retracement of
the Oct rally/Monday's trough at $0.6801/6799 have given way, shifting focus to
$0.6770, which represents the 61.8% retracement of the Oct bull mkt and also the
Nov 14 low. A dip below there would bring the 76.4% retracement of the
aforementioned rally at $0.6732 into play.