AUD/USD Outlook (07 January 2020)

Overall, AUD/USD is moving across. Recently, AUD/USD trended lower into the support level.
The Australian building approvals m/m data (Forecast: 2.1%, Previous: -8.1%) will be released tomorrow at 0830 (SGT).
If the released data is better than forecasted, the Australian dollar may strengthen.
Currently, AUD/USD is testing the support level of 0.69200 and the next resistance level is at 0.70500.
Stay out of AUD/USD for now.