The Australian dollar was on the back foot, partly due to the “risk off†sentiment. Is the battle for 0.80 over? The rate decision is the big event for the week, but certainly not the only one. Here are the highlights of the week and an updated technical analysis for AUD/USD.
North Korea’s statement that the “US has declared war†weighed on sentiment and sent risk currencies such as the Aussie lower. The RBA is not that keen on raising rates. Later on, the US dollar surged on optimism, mostly stemming from hopes for a massive tax reform in the US.
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
