The Australian dollar rose to a more than one-week high against its U.S. counterpart on Friday, as disappointing U.S. consumer sentiment data weighed on the greenback, while investors reassessed the geopolitical situation in Eastern Europe and in the Middle East. AUD/USD hit 0.9409 on Friday, the pair’s highest since July 10, before subsequently consolidating at 0.9392 by close of trade on Friday, up 0.44% for the day and flat for the week.
The pair is likely to find support at 0.9334, the low from July 17 and resistance at 0.9455, the high from July 10.
Data from the Commodities Futures Trading Commission released Friday showed that speculators increased their bullish bets on the Australian dollar in the week ending July 15.
Tuesday, July 22
- Reserve Bank of Australia Governor Glenn Stevens is to speak, his comments will be closely watched.
- The U.S. is to release reports on consumer price inflation and existing home sales.
- Australia is to produce data on consumer price inflation.
- The U.S. is to produce data on unemployment claims, manufacturing activity and new home sales.
- The U.S. is to round up the week with data on durable goods orders.
