The Australian dollar slipped on downbeat inflation expectations and unemployment rate. A break below the daily support of 0.6870 has put the aussie under pressure, with a sharp fall suggesting that a number of buyers have scrambled for the exit. Then a hesitant bounce has failed to secure a foothold above the psychological level of 0.7000, which indicates stiff selling pressure. The latest drop below 0.6860 shows that the bears have doubled down and the sell-off may resume towards 0.6800. 0.6930 is a fresh resistance.
