AUD/USD pairs show potential for bullish movement, targeting key resistances, with technical analysis indicating a slight upward momentum.

Bullish view

• Buy the AUD/USD pair and set a take-profit at 0.6567.
• Add a stop-loss at 0.6485.
• Timeline: 1-2 days.

Bearish view

• Set a sell-stop at 0.6520 and a take-profit at 0.6475.
• Add a stop-loss at 0.6620.

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The AUD/USD pair ticked upwards ahead of two important economic numbers from the US and Australia. The pair was trading at 0.6525 on Monday morning, a few points above last week’s low of 0.6480.

US inflation and Australia jobs data

The AUD/USD pair had a relatively calm week as the Reserve Bank of Australia (RBA) delivered its first interest rate decision of the year. The bank left interest rates intact and cautioned investors about rate cut expectations. Most economists expect the bank to maintain rates unchanged and then start cutting mid this year.

There was no other major event last week except the numerous statements by Federal Reserve officials like Jay Powell and Tom Barkin. This week, however, will have some important events that will certainly move the US dollar and the Australian dollar.

The US will publish the important consumer inflation data on Tuesday. These will be crucial numbers because they form part of Fed’s dual-mandate role of ensuring price stability and full employment.

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