AUD/USD was unchanged last week, closing at 0.7439. This week’s key events are Private Capital Expenditures and Retail Sales. Here is an outlook of the major market movers and an updated technical analysis for AUD/USD.
Australian Retail Sales posted a strong gain of 1.0%, easily beating the estimate. In the US, Nonfarm Payrolls was dismal, as the gain of 138 thousand was well below expectations. This weak reading allowed the Aussie to recover and hold its own against the US dollar last week.
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
