Australian retail sales decreased more than expected in December but rose more than anticipated in the fourth quarter. The trade surplus decreased, as imports rose at the same time exports slowed down. The AUDUSD recovered from its low and moved out of its horizontal support area. How will this currency pair be impacted by US data regarding its labor market? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Following yesterday’s strong ADP report, forex traders will look forward to more data concerning the state of the US labor market. Today’s data does not affect tomorrow’s NFP report, which is eagerly awaited. The previous employment report surprised to the upside but failed to provide a boost to the US Dollar. Will bulls add to the breakout in the AUDUSD, or will bears force a reversal? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.