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.
It’s back to the basics for the AUDUSD pair as we again want to trade the long-time resistance level of 0.7740! This level has been tested over and over again and now we see the level finally coming into sight. I am bullish on this pair but do look for a strong close of at least 40-50 pips above this level before confirming any break of the resistance.