FxWirePro: AUD/USD Weekly Outlook

• AUD/USD lifted to 0.7696 in early trading after Friday poor NFP data kept the US dollar subdued.
   
• However, reports of missile strikes in Syria could weigh in risk sentiment, limiting gains in the pair.
   
• Focus this week will be RBA Lowe's speech on Wednesday after last week's dovish showing from the RBA.
   
• On the data front we have Australia’s business confidence, consumer sentiment and home loan approvals along with US CPI and FOMC minutes which could impact price action.
   
• The pair has been on a downward trajectory since Jan 2018 highs of 0.8135 and we do not evidence any major signs of reversal.
   
• That said, bearish momentum is fading and we see bullish divergence on daily charts which keeps scope for upside.
   
• 20-DMA is stiff resistance for the pair. Breakout at 20-DMA could see some upside.
   
• On the flipside, weekly cloud at 0.7642 is strong support, violation there will see further drag lower.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest.