After reaching a two year high, we’ll get to hear the views of the central bank about the economy. Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines on it. Click to enlarge: The steaming hot Chinese economy contributed to the Aussie’s gains and the two-year high. Also the greenback’s weakness had its role. Will this continue? Glenn Stevens talks: Monday, 3:30. The head of the RBA always rocks the currency with his speeches. His appearance in Shepparton, very early in the week, is likely to provide a strong start for the week. Any comments about the exchange rate will naturally have a stronger impact. Monetary Policy Meeting Minutes: Tuesday, 1:30. The recent rate decision left the Cash Rate unchanged at 4.50%. Nevertheless, the Australian economy is definitely warming up, as seen in employment and GDP. It will be interesting to see if any of the participants considered a rate hike in the near future. MI Leading Index: Wednesday, 1:30. 9 economic indicators build this composite index. In the past three months, this indicator hardly moved. A rise above 0.5% or a negative outcome will have a strong impact, even though most of the components have already been released. AUD/USD Technical Analysis The Aussie began the week with an impressing break above the all-important 0.9327 line, mentioned in last week’s outlook. It then pushed forward and went as high as 0.9469 before losing ground and closing at 0.9359, just under the 0.9366 line. This 0.9366 line, which was a stubborn peak in April, will be an important pivotal line at the beginning of the week. Above this line, 0.9405 was the 2009 high and serves as the next line of resistance. Above, the past week’s peak at 0.9469 provides further resistance – this is the current two year high. Even higher, we’re back to lines last seen in 2008. 0.9536 worked as a resistance line when the Aussie was pushing up, and then provided support just before the big collapse. Another line is 0.9650, which capped the pair for several months and was broken only temporarily before the big crisis. Looking down from current levels, the important 0.9327 now turns into a strong support line. It already worked as such in the past week. Lower, 0.9277 capped the pair before it leaped upwards in a weekend gap and is a minor support line now. Lower, 0.9220 capped the pair in August and provided support in April – it’s a strong line now. Even lower, 0.9180 is a minor line of support, after working as resistance on the way up. It’s then followed by 0.9080 which capped the pair in July and 0.90 – the round psychological number. I remain bullish on AUD/USD. The Aussie finally unleashed its potential, riding on Chinese figures, risk appetite, and also on its own fundamentals, such as the recent and great jobs report. If there isn’t any major disaster, the pair can continue upwards. 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/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/USD forecast. For the New Zealand dollar (kiwi), read the NZD/USD forecast. For USD/CAD (loonie), check out the Canadian dollar forecast. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Forecast share Read Next NZD/USD Outlook – September 20-24 Yohay Elam 12 years After reaching a two year high, we'll get to hear the views of the central bank about the economy. Here's an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines on it. Click to enlarge: The steaming hot Chinese economy contributed to the Aussie's gains and the two-year high. Also the greenback's weakness had its role. Will this continue? Glenn Stevens talks: Monday, 3:30. The head of the RBA always rocks the currency with his speeches. His appearance in Shepparton, very early in the week, is likely to provide… 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.