AUD/USD Outlook (12th February 2019)

• AUD/USD moving towards support level
  
• Tentative deal reached to avoid US government shutdown
  

Price Movement
Since yesterday, AUD/USD had moved down by around 30pips.

Trend
AUD/USD is currently on a downtrend.

Macro Background
No major economic data release.

Important Issue
U.S. congressional negotiators have reached a tentative deal to fund the government and avoid a future government shutdown. The passing of the deal will prevent those employees who were affected during the 35-day partial government shutdown from having to once again miss future paychecks.

Technical
Yesterday, AUD/USD bounced-off the key level of 0.71.
AUD/USD is currently moving towards the support level of 0.70548.

Price Levels
Current Price: 0.70749
Next Resistance: 0.71339
Next Support: 0.70548