AUD/USD reversed directions last week, as the pair dropped 150 points. AUD/USD closed at 0.7182. The upcoming week has five events. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
In the US, key releases were satisfactory, led by retail sales and inflation numbers which met expectations late in the week. Expectations of a rate hike at the all important Fed policy meeting enabled the US dollar to post strong gains at the expense of the Aussie. Australian job numbers were outstanding (so good, in fact, that there are doubts as to their accuracy), but this failed to stop the greenback’s rally.
Read the rest of the article AUD/USD Forecast December 14-18