Against Friday's statistics, the AUD/USD pair is growing, trading around 0.6427.
Australia's retail sales rose by 0.2% in the third quarter, marking a fourth consecutive period of positive growth, although this time, the value slowed rapidly from 1.0% earlier. Thus, the leaders were department stores, which added 4.4%, restaurants – 3.3%, and retail trade in clothing, footwear, and personal accessories (+3.2%). These industries have been among the top three in volume growth in the past four quarters, driven primarily by increased consumer demand following the coronavirus pandemic. Household goods declined the most, by 1.9%, and food, which lost 0.6%, but retail prices gained 2.0% on average in September. Thus, the sectors most affected by COVID-19 provided positive dynamics, indicating the economy's ongoing recovery.
The US dollar failed to hold on to the year's highs and fell to 110.800 in the USD Index as investors were disappointed by the October unemployment report, which rose by 0.2% to 3.7% instead of 3.5% in September. The key factor that influenced the increase in the indicator was Nonfarm Payrolls, which fell to 261.0K from 315.0K a month earlier. The private Nonfarm Payrolls also showed negative dynamics, falling to 233.0K from 319.0K in the previous period.
On the daily chart of the asset, the price is moving in a downtrend, forming a Head and shoulders reversal pattern.
Technical indicators maintain a weakening sell signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram has come close to the transition level.
Resistance levels: 0.6495, 0.6680. | Support levels: 0.6360, 0.6196.