AUD/USD showed some gains early on, but ended the week almost unchanged. There are no data releases this week, as the spotlight will be on RBA events. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. Australian New Motor Vehicle Sales improved in February, but posted a paltry gain of 0.1%. The RBA minutes indicated that the central bank is unlikely to adjust interest rates in the near future. In the US, Unemployment Claims beat the forecast for a third straight week, and Janet Yellen’s comments that interest rate could rise early next year sent the US dollar surging higher. [do action=”autoupdate” tag=”AUDUSDUpdate”/]AUD/USD graph with support and resistance lines on it. Click to enlarge: RBA Deputy Governor Philip Lowe Speaks: Tuesday, 4:45. Lowe will speak at two engagements in Sydney on Tuesday. Comments which are more hawkish than expected are bullish for the Australian dollar. RBA Financial Stability Review: Wednesday, 00:30. This report is released twice a year, and provides a detailed assessment of the stability of the Australian financial system. The markets will be looking for hints regarding the RBA’s future monetary policy, and any unexpected findings could affect AUD/USD. RBA Governor Glenn Stevens Speaks: Wednesday, 6:00. Stevens will address an investment conference in Hong Kong. Analysts will be listening closely for any hints regarding the RBA’s future monetary policy, particularly interest rate levels. *All times are GMT. AUD/USD Technical Analysis AUD/USD started the week at 0.9029 and quickly climbed to a high of 0.9138. The pair then reversed directions, dropping to a low of 0.9037, as support held firm at 0.9000 (discussed last week). AUD/USD closed the week at 0.9020. Live chart of AUD/USD: [do action=”tradingviews” pair=”AUDUSD” interval=”60″/] Technical lines from top to bottom: We begin with resistance at 0.9442. This marked the high point of the pair in November, which saw the Aussie go on a sharp slide and drop below the 0.89 line. This is followed by resistance at 0.9368, which was an important line in mid-November. Next, there is resistance at 0.9283. This line saw a lot of action in the months of June and July, alternating between resistance and support roles. It has provided steady resistance since November. 0.9180 follows. This is an important line, which has remained firm since late November. We find support for the pair at 0.9000, which remained intact as the Aussie retracted from some early gains. This key line is not strong and could see action early in the week. 0.8893 is the next support line. 0.8728 marks the low point of an Aussie rally which began in early February and pushed above the 0.90 level. This is followed by 0.8578, which has remained intact since July 2010. The final support level for now is 0.8432, which played a key support role in late 2009. I am bearish on AUD/USD. The Australian dollar remains above the key 0.90 level, but that could quickly change. The RBA noted in its minutes that the Australian dollar remains too high for its liking, and this sentiment is weighing on the currency. The continuing crisis in the Ukraine could see investors dump riskier currencies like the Aussie in favor of the safe-haven US dollar. 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 the Japanese yen, read the USD/JPY forecast. For GBP/USD (cable), look into the British Pound forecast. For the Australian dollar (Aussie), check out the AUD to USD forecast. USD/CAD (loonie), check out the Canadian dollar. 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 USD/JPY Forecast March 24-28 Yohay Elam 8 years AUD/USD showed some gains early on, but ended the week almost unchanged. There are no data releases this week, as the spotlight will be on RBA events. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. Australian New Motor Vehicle Sales improved in February, but posted a paltry gain of 0.1%. The RBA minutes indicated that the central bank is unlikely to adjust interest rates in the near future. 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