AUD/USD Outlook (07 February 2022)

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Overall, AUD/USD is ranging across. Recently, AUD/USD broke the support zone of 0.71000 after the release of the strong U.S. jobs report.

The Australian Retail Sales m/m data (Forecast: TBA, Previous: -4.4%) will be released later at 0830 (GMT+8).

Currently, AUD/USD is moving towards the resistance zone of 0.71000. Its next support zone is at 0.68200 and the next resistance zone is at 0.71000.
Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.71000.

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