Australia Dec Building Permits (MoM) -4.4%

The Australian Dollar has lost its bias tone initiated in early Asian trade after very poor Australian building permits in December, down at -4.4% vs + 1% consensus. The pair, reaching its peak at 1.0430 - descending trendline resistance - has now fallen to session low at 1.0414, printing in the process a 1 hour bearish engulfing candle.