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Slips On Wednesday

AUD

AUD/USD ground lower on Wednesday, as the DXY rallied to fresh cycle highs ahead of the U.S. Thanksgiving holiday. The rate showed below the $0.7200 mark for the first time since Sep 30.

  • AUD/USD sits +7 pips at $0.7202 as we type. Bulls would be pleased by further gains past Nov 18 high of $0.7293, followed by Nov 15 high of $0.7371. Conversely, bears set their sights on Sep 29 low of $0.7170.
  • Australia's private capex for Q3 will hit the wires at the bottom of the hour, with monthly retail sales coming up tomorrow.

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