AUD/USD posted sharp gains last week, climbing 130 points. The pair closed the week at 0.7686. This week’s key events are Retail Sales and the cash rate. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
In the US, controversial moves by Donald Trump, such as the spat with Mexico and a travel ban on Moslem refugees has hurt the greenback. US job numbers were mixed, as Nonfarm Payrolls was better than expected but wage growth was weaker than expected. In Australia, Business Confidence improved but Building Approvals contracted.
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
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