Last week not many macroeconomic indicators were published for the economy of Australia. The most important ones were related to the labor market. Employment change dropped to -36.1K from 74.0 in February and the unemployment rate is now 5.6% This week reading can might put some additional pressure on the RBA, and at the next policy meeting the interest rate might be lowered, hitting a historical low.

On Monday home loans are expected at 1.6% and Tuesday the monetary policy minutes will be published.

AUDUSD opened the week with a negative gap, but rallied 2.10% afterwards and managed to close only at a 1.33% gain. The price almost touched 1.06, an important resistance, but dropped back to 1.05 on Friday. If this local resistance will hold than we might just see a consolidation under it.