AUD/USD rocked on the mixed job figures and is back to the range as G-20 meetings begin. Will the Aussie fall from the high range or is it pausing before the next move? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD supported at parity.
AUD/USD Technicals
- Asian session: Active session found the Aussie rocking on mixed job figures..
- Current Range between 1.0023 to 1.0080
- Further levels in both directions: Below 1.0023, 1.0000, 0.9915, 0.9850, 0.9750, 0.9669. Above 1.0080, 1.0180, 1.0220, 1.03.
- Parity is a strong support line now.
- 1.0180 is a strong line of resistance before uncharted territory.
AUD/USD Fundamentals
All times are GMT. Most important events emphasized.
- 00:30 Australian employment data. Employment Change exp. +20K, actual 29K. Unemployment rate, expected 5%, actual 5.4%.
AUD/USD Sentiment
- The rise in unemployment rate was a disappointment, but after it was explained in an expansion in the number of people in the job market. So, the Aussie is back on its feet.
- QE2 weakened the US dollar, and sent AUD/USD to new historic highs. So is gold.
- European problems begin to weigh on the whole world.
- G-20 statements will rock the markets. No significant agreement is expected, but any mention of currencies will move the markets. FX is high on the agenda.
- Currensee Community: 88% are short, 12% are long. 339 open positions in real accounts trading this pair at the moment. Is the community seeing a big correction?
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