FXstreet.com (Sydney) - The EUR lost ground once again to the Aussie after the AUD rallied on the back of an unemployment increase in Australia. The pair is down 0.43% for the day after opening at 1.6114. Downward trend is likely for the pair, while it finds support at 1.6070, resistance line is 1.6490.

The prime mover will be the Aussie as unemployment data is digested by the markets. While there was only a modest increase of 0.1% to 5.8% in October, there is still an underlying weakness in the Australian economy which has boosted the AUD. In Europe industrial production data is also due to be released today.

.