The Aussie declined again slightly Thursday against the US Dollar following better-than-expected unemployment data. The Aussie was trading at 1.0040, down 0.57% at the time of this writing.
How low will the Aussie decline against the UD Dollar in the short term?
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie traded slightly lower Thursday against the Greenback. The US Dollar was also up following US FED Chairman’s Bernanke’s comments.
- Current range: 1.0011 – 1.0093
- Further levels: Below: 1.0013, 1.0025, 1.0031 Above: 1.0049, 1.0061, 1.0067
- AUD / USD likely to find support at today’s low of 1.0010, and resistance at 1.0190.
AUD/USD Fundamentals
- 08:30 – US – Trade Balance Exp. -40.4B
- 09:55 – US – Prelim UoM Consumer Sentiment Exp. 74.8
- 09:55 – US – Prelim Prelim UoM Inflation Expectations
- 21:99 – US – FOMC Member Raskin Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The latest Australian unemployment data shows the jobless rate holding steady at 5%. The unemployment data was better-than-expected; however the increase in jobs was almost entirely from part-time jobs. Does this indicate a lack of confidence of employers in the growth prospects of the economy?
- Concerns over the economic effects of the Queensland flooding and Chinese rate cuts are affecting investor sentiment, causing uncertainty and risk-aversion in the markets.
Currensee Community: 93% are short,7% are long. 422 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
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