AUD/USD Feb.18–Aussie Rallies against Uncertain US Dollar

The Aussie is higher against the US Dollar Thursday, following the release of a slew of uncertain US economic data. The Aussie is currently trading at 1.0125, up 0.86% at the time of this writing.

Here’s a quick update on technicals, fundamentals and community trends.

AUD/USD Technicals

• Previous sessions: The Aussie continued to rally against the US Dollar in trading Thursday following a US Dollar that was down against all other major currencies following the release of a slew of uncertain US economic data.
• Current range: 1.0022– 1.0130
• Further levels: Below: 1.010, 1.0106, 1.0115  Above: 1.0130, 1.0136, 1.0145
• AUD / USD likely to find support at 0.9944, and resistance at 1.0130.

AUD/USD Fundamentals

• Day 1 – ALL – G20 Meetings
• 08:00 – US – Fed Chairman Bernanke Speaks
• 09:45 – US – Treasury Secretary Geithner Speaks

* All times are GMT.

For the major events due later in the week, see the AUD/USD forecast.

AUD/USD Sentiment

• US initial Jobless claims rose more than expected for the past week.
• US Consumer Prices rose more than expected for the month of January.
• The US economic report indicated a fair level  of uncertainty regarding the health of the US economy. While manufacturing and consumer prices data was positive, inflation and  jobless rates information seemed negative.

Currensee Community: 92% are short, 8% are long. 443 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.