AUD/USD reversed directions last week and gained 110 points. The pair closed at 0.7683. This week’s key indicators are Retail Sales and the RBA rate statement. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
There were major Australian events last week. In the US, Final GDP in Q1 was revised upwards to 1.4%, above the estimate of 1.2%. In the US, the Fed sounded more skeptical about inflation picking up. Is the Fed having second thoughts about a third rate hike in 2017?
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
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