The Australian dollar showed some strength during the week, but retracted and closed the week with slight losses. AUD/USD closed the week at 0.7736. The upcoming week has nine events. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.

It was a quiet week for Australian data, with just one minor release. In the US, inflation beat expectations and New Home Sales were also stronger than expected. However, durable goods orders and GDP missed their estimates.

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