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Australian economy continues to show improvement in last couple of months, as trade surplus is rising, consumer spending remain well above expectations and employment numbers are showing that businesses are remain optimistic about future economic growth.
From technical perspective, AUDUSD remain in an uptrend as price continues to make higher highs and higher lows on Weekly time frame. Next major resistance is around 235 pips away and price is expected to hit this level in next few weeks. However, the best option would be to wait for some retracement into 07800 level for better risk to reward ratio.
On the other hand, recent development in US politics is keeping traders worried and as such US Dollar remain will under pressure.
From technical perspective, AUDUSD remain in an uptrend as price continues to make higher highs and higher lows on Weekly time frame. Next major resistance is around 235 pips away and price is expected to hit this level in next few weeks. However, the best option would be to wait for some retracement into 07800 level for better risk to reward ratio.
On the other hand, recent development in US politics is keeping traders worried and as such US Dollar remain will under pressure.
