The Australian dollar stalled after GDP growth slowed in the fourth quarter. The price action seems to have gained a secure footing in the 0.6650-0.6700 demand zone near the December swing low. This is a major area for the bulls to fight back and safeguard the uptrend in the medium-term, as a bearish breakout could cause a reversal. 0.6840 is the first hurdle on the hourly chart and its breach would reduce the selling pressure. Further up, 0.6930 is the ceiling to lift before a broader recovery could take shape.
