AUD/USD lost about 130 points last week, as the pair closed at 0.8622. The Aussie played catch up with its peers after showing resilience beforehand. The upcoming week is busy,with many events to move the A$. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. Last week’s US job numbers were not as strong as hoped, as US Nonfarm Payrolls slipped to 214 thousand, well short of the estimate of 235 thousand. On a brighter note, the Unemployment Rate slipped to 5.8%, its lowest level in six years. In Australia, Retail Sales and employment numbers were strong, but this wasn’t enough to prop up the shaky Australian dollar. [do action=”autoupdate” tag=”AUDUSDUpdate”/]AUD/USD graph with support and resistance lines on it. Click to enlarge: Home Loans: Monday, 00:30. Home Loans disappointed with a reading of -0.9% last month, marking its first decline in five months. The markets had expected a slight gain of 0.2%. Another decline is expected in the upcoming release, with an estimate of -0.3%. Chinese CPI: Monday, 1:30. The Aussie is sensitive to key Chinese releases, as China is Australia’s number one trading partner. CPI has been steadily losing ground since May, and dropped to 1.6% last month. No change is expected in the October release. NAB Business Confidence: Tuesday, 00:30. This is the key event of the week. Then indicator slipped to 5 points last month, its lowest level since March. Business confidence usually translates into stronger spending and hiring. Will the indicator turn around and improve this month? HPI: Tuesday, 00:30. This house inflation index, released quarterly, is an important gauge of activity in the housing sector. The index posted a gain of 1.8% in Q2, well above the estimate of 1.1%. The forecast for the upcoming release stands at 1.6%. Westpac Consumer Sentiment: Tuesday, 23:30. The indicator posted a modest gain of 0.9%, bouncing back from a weak reading of -4.6%. A strong reading could help the Aussie move higher. Wage Price Index: Wednesday, 00:30. The index is released each quarter, magnifying the impact of every release. The indicator has been fairly steady, posting a gain of 0.6% in Q2. No change is expected in the Q3 reading. MI Inflation Expectations: Thursday, 00:00. Analysts rely on this indicator to help track actual inflation trends. The indicator showed little change last month, posting a strong gain of 3.4%. The markets are not expecting a significant change in the upcoming release. RBA Assistant Governor Christopher Kent Speaks: Thursday, 1:30. Kent will deliver remarks at an event in Sydney. A speech that is more hawkish than expected is bullish for the Australian dollar. Chinese Industrial Production: Thursday, 5:30. The indicator jumped to 8.0% in the October release, compared to just 6.9% a month earlier. No change is expected in this month’s reading. * All times are GMT. AUD/USD Technical Analysis AUD/USD started the week at 0.8752 and touched a high of 0.8762. The pair then dropped to a low of 0.8547, breaking below support at 0.8750 (discussed last week). AUD/USD closed the week at 0.8622. Live chart of AUD/USD: [do action=”tradingviews” pair=”AUDUSD” interval=”60″/]Technical lines from top to bottom: We start with resistance at 0.9270. This line supported the pair in August but reverted to resistance in September with the Australian dollar sustaining steep losses. 0.9175 remains a strong resistance line. The round number of 0.9000 is next. 0.8891 continues to provide strong resistance. 0.8750 has switched to a resistance line as the Aussie posted sharp losses. It is a strong line. AUD/USD broke through support at 0.8660, which has also reverted to a resistance role. 0.8550 was breached for the first time since December 2007. It subsequently recovered and is an immediate support level. 0.8316 marked the start low point of a US dollar rally which saw the greenback climb above the 1.10 level. 0.8150 is our final support line for now. It has remained intact since September 2007. I am bearish on AUD/USD. With QE finally over and done with, the focus now shifts to an interest rate hike. The US economy continues to improve and wages could move upwards, which will put pressure on the Fed to raise interest rates. The Australian dollar had a rough week and the downward trend could continue if business and consumer sentiment numbers fail to meet expectations. In our latest podcast, we run down the ECB, talk about the huge Japanese move, preview the UK and also talk about Brazil: Download it directly here. Subscribe to our podcast on iTunes. Further reading: For a broad view of all the week’s major events worldwide, read the USD outlook. For EUR/USD, check out the Euro to Dollar forecast. For GBP/USD (cable), look into the British Pound forecast. For the Australian dollar (Aussie), check out the AUD to USD forecast. For USD/CAD (loonie), check out the Canadian dollar forecast. For the kiwi, see the NZDUSD forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher AUD/USD ForecastMinorsWeekly Forex Forecasts share Read Next GBP/USD Forecast November 10-14 Kenny Fisher 8 years AUD/USD lost about 130 points last week, as the pair closed at 0.8622. The Aussie played catch up with its peers after showing resilience beforehand. The upcoming week is busy,with many events to move the A$. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. Last week's US job numbers were not as strong as hoped, as US Nonfarm Payrolls slipped to 214 thousand, well short of the estimate of 235 thousand. On a brighter note, the Unemployment Rate slipped to 5.8%, its lowest level in six years. In Australia, Retail Sales and employment… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.