The AUD/USD and EUR/USD decline after Australian retail sales fall 0.1% in November, against expectations for a 0.3% rise. The AUD/USD falls from 1.0518 to 1.0486, while the EUR/USD falls from 1.3087 to 1.3066. "The fall is an immediate reaction to the figures and likely won't be sustained," says Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo. He tips support for the EUR/USD at 1.3000, with bias slightly to the downside after the pair failed to clearly breach technical resistance at 1.3300. But he adds the pair is likely to lack strong direction either way ahead of the ECB's meeting on Thursday, in which it is expected to stand pat. The AUD/USD is last at 1.0492 and the EUR/USD is at 1.3071.
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