The technical break in AUD/USD continues to look better by the day
Once again, if it weren't the closing stages of the year, it'll be easy to keep at technical break of the 200-day MA (blue line) for AUD/USD.
However, there's still some consideration that it could retrace back once real money flows do return in the next week or so. All that said, the move higher today comes amid some dollar weakness we're seeing towards the end of the year.
But as long as buyers can keep up the momentum and push away from the 200-day MA and October highs around 0.6930-39, then there's a good chance for a further squeeze towards the 0.7000 handle at the very least - with an eye on the July high @ 0.7082.
Looking further out though, there are plenty more things to take into account - especially with the RBA meeting coming soon on 4 February 2020.
Between now and then, the December labour market report (due on 23 January) and Q4 inflation data (due on 29 January) will be the key ones to watch out for. Other than that, I highlighted other relevant factors to consider in this post here.
