AUD/USD struggles near 0.6650 amid weak Chinese economic data

AUD/USD remains under pressure at 0.6645, down 0.2% (15 pips) following disappointing Chinese economic indicators that dampened risk sentiment. China's November retail sales grew only 3.0% year-over-year, missing the 4.6% forecast, while industrial production rose 5.4%, below expectations of 5.8%. The weak data from Australia's largest trading partner has weighed heavily on the commodity-linked Aussie dollar. Fixed asset investment also disappointed at 3.3% versus 3.4% expected, raising concerns about China's economic recovery trajectory. Technical analysis shows AUD/USD facing immediate resistance at 0.6680, with strong support established at 0.6620. The pair's failure to break above the 0.6700 psychological level suggests continued bearish momentum. Traders await Tuesday's RBA meeting minutes and Thursday's Australian employment data, which could provide fresh directional catalysts for the currency pair amid China's economic headwinds.