The pair had a quietly stronger day for the best part, until RBA Assistant Governor (Economic) Christopher Kent, in a Q&A after a speech in Sydney, said that the RBA hadn’t ruled out intervention. Aussie dropped from $0.8726 to $0.8677. It managed to recover back above $0.8700 but again went sideways in a new $0.8705/0.8690 range until the latest round of Chinese data saw Retail sales as expected in October, but Industrial Production slightly below forecasts in the same month. AUD/JPY had also broken through to new recent highs at around Y100.90 prior to the comments, but quickly dropped back to Y100.27. Support on AUD/USD now at the session lows of $0.8670 then buyers at $0.8650. Sellers above at $0.8750 then $0.8800, with scattered stops above these well-defined levels.
