German industrial production increased in November monthly at a better-than-expected rate. German exports posted a bigger contraction than anticipated, confirming the global economy was weaker than priced in at the end of 2019. Imports also contracted. The EURJPY moved to the lower band of its horizontal support area. Will bears pressure for a breakdown, or can bulls attempt a reversal? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The Australian trade surplus surprised to the upside as exports as well as imports contracted more than economists predicted. Forex traders are also wrestling with the potential of an RBA interest rate cut, which has loomed over the Australian Dollar for several weeks. How will price action react as the trading sessions unfolds? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.