AUD/USD Bulls Target 0.7100 Amid Weaker US Retail Sales

The Australian dollar strengthened against the US dollar in early trading on [Date], with AUD/USD bulls setting their sights on the 0.7100 resistance level following a weaker-than-expected US retail sales report that pressured the greenback.

US retail sales rose by only 0.1% in [Month], missing the 0.3% forecast and down from the previous month's 0.7% gain, raising questions about the resilience of the US economy and weighing on the US dollar.

The pair has been in a gradual uptrend since early [Month], supported by firm commodity prices and a relatively hawkish stance from the Reserve Bank of Australia (RBA).