AUD/USD Outlook (14th February 2019)

FX:AUDUSD   Australian Dollar / U.S. Dollar

Price Movement
Since yesterday, AUD/USD moved up by around 20pips before coming back down for around 40pips.

Overall, AUD/USD is moving on a downtrend.

Macro Background
The U.S. Retail Sales data measures the change in the total value of sales at the retail level.
It is scheduled to be released tonight at 2130 (SGT).
It is expected to perform worse than previous month. If the released data is worse than or as expected, we may see a weakening in the U.S. dollar and AUD/USD will be moving up.

Important Issue

Yesterday, AUD/USD tested and rejected the resistance level of 0.71339.

Price Levels
Current Price: 0.71030
Next Resistance: 0.71339
Next Support: 0.70548
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