AUD/USD Outlook (28th January 2019)

• AUD/USD broke key levels
  
• Australian Day
  
• Trump temporarily reopens government
  

Price Movement
Since last Friday, AUD/USD has been very bullish and had moved for more than 100pips.

Trend
AUD/USD is currently on an uptrend.

Macro Background
No major economic data release.

Important Issue
Since Australian banks will be closed in observance of Australia Day, expect lower trading volume and volatility for AUD/USD.

U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress If the immigration deal is not to the president’s liking.

Technical
Last Friday, AUD/USD went on a rally, breaking the 0.71 level and the resistance level of 0.71339.
It is currently testing the 0.72 level.

Price Levels
Current Price: 0.71955
Next Resistance: 0.72088
Next Support: 0.71339