AUD/USD bulls target 0.7100 after US retail sales miss
The Australian dollar advanced on Friday as weaker US retail sales boosted speculation the Federal Reserve may hold off on raising rates.
AUDUSD
AUD/USD moved higher on Friday, trading around 0.7083, after US Retail Sales came in below expectations. The soft data added to signs of tentative weakness in the US economy.
Investors read the miss as a reason the Federal Reserve might not raise rates, which pressured the US dollar and supported the Australian currency.
Forecasters in the post see bulls targeting the 0.7100 level as the next key area to watch.
Source: FXStreet Forex News