AUD/USD Outlook (06 February 2020)

Overall, AUD/USD is trending downwards. Recently, AUD/USD trended higher.
The retail sales m/m data (Actual: -0.5%, Forecast: -0.2%, Previous: 1.0% revised from 0.9%) released earlier today was worse than forecasted. However, AUD/USD was not affected negatively by the poor data.
Reserve Bank of Australia (RBA) Governor Phillip Lowe will be testifying tomorrow at 0630 (SGT). During this time, volatility is expected of AUD/USD.
Also, the RBA will be releasing the monetary policy statement tomorrow at 0830 (SGT).
AUD/USD’s next support level is at 0.66800 and the next resistance level is at 0.68500.
Look for short-term buying opportunities of AUD/USD.