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• AUD/USD continued to recover from two-year low on Monday as market awaited reading on inflation and retail sales figures from Australia.
• Australia is set to release its monthly inflation report on Wednesday, with economists predicting headline inflation will rise to 2.3% annually in November, up from 2.1% in October.
• Australia Retail sales data is set for release on Thursday, with economists expecting a strong 0.9% increase in November.
• At GMT 05:30, The Australian dollar was last trading up 0.23% to $0.6227.
• Immediate resistance is located at 0.6248 (38.2%fib), any close above will push the pair towards 0.6272(50%fib).
• Support is seen at 0.6174(23.6%fib) and break below could take the pair towards 0.6126(Lower BB).
Recommendation: Good to sell around 0.6260, with stop loss of 0.6300 and target price of 0.6160
