AUD/USD hit 1.0584 on Wednesday, the pair’s highest since September 14; the pair subsequently consolidated at 1.0564 by close of trade Friday, up 0.78% for the week.
The pair is likely to find support at 1.0509, and short-term resistance at 1.0584.
The Department of Labor said Friday U.S. consumer inflation fell 0.3% in November, down for the first time in six months on the back of lower gasoline prices, bringing the annualized rate of inflation to 1.8%.
The soft inflation data warranted continued monetary easing by the Federal Reserve.
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