The Australian dollar showed some strength last week, gaining close to 100 points. AUD/USD closed the week at 0.7918. This week’s major events are NAB Business Confidence and the Annual Budget. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
The Australian dollar took advantage of a mixed NFP report and briefly rose above the 0.80 level. In Australia, employment numbers were weak and the RBA cut rates, as expected, to a record low of 2.0%.
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