The AUD/USD Opens the Week Green: Key Levels

The AUD/USD has had a rough week and many bulls will be hoping for a bit of a bounce.

Lat week was marked by the RBA turning a little dovish along with a weaker than expected retail sales figure.

This week, risk assets will again be in the spotlight thanks to the US-China talks that will be taking place on Feb 14-15.

Last week the news appeared grim for the progress on that front, so hopefully this might bring some positive news for markets.

The AUD/USD has been a good proxy trade for those focused on trade and as such has copped its whacks along the way as well as a decent rally.

Aussie Outlook

The AUD/USD is under the major level at 0.7100 and is up 0.20% on the session.

0.7050 and then 0.7000 are my next two key support levels below, with 0.7100 turning into key resistance.

0,7200 is R1 and 0.7300 is R3 and the most recent highs sitting at 0.7400.

The calendar in Asia is thin today, so we might need to wait for Europe and the US to enter.