Australian Dollar could extend its winning streak on the tepid US Dollar. Australia’s S&P/ASX 200 Index retreats from all-time highs as investors booked profits. China's CPI YoY and MoM increased by 0.7% and 1.0%, respectively, in February. US Nonfarm Payrolls rose by 275K in February, surpassing the expected 200K and 229K prior.
Technical Analysis: Australian Dollar hovers around 0.6620 followed by the previous week’s high The Australian Dollar trades around 0.6620 on Monday. Key resistance appears at the major level of 0.6650, followed by the previous week’s high of 0.6667. A break above this level could support the pair to test the psychological barrier of 0.6700 level. On the downside, the immediate support appears at the 23.6% Fibonacci retracement level of 0.6614 followed by the psychological level of 0.6600.
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