The Aussie closed the week up against the US Dollar Friday, an all-time high. The Aussie closed the week at 1.0383, up 0.52% for the day and up 1.35% for the week by the close of Friday’s trading.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie climbd to an all time high of 1.394 during the session before consolidating to its current level by the close of trade.
- Current range: 1.0316- 1.0397
- Further levels: Below: 1.0359, 1.0365, 1.0375 Above: 1.0391, 1.0397, 1.0407
- AUD / USD likely to find support at 1.0306, and resistance at 1.0394.
AUD/USD Fundamentals
- 09:30 US FOMC Member Evans Speaks
- 18:00 New Zealand NZIER Business Confidence Prev. 8
- 19:15 US Fed Chairman Bernanke Speaks
- 19:30 Australia AIG Services Index Prev. 48.7
- 12:30 Australia Trade Balance Exp. 1.15B Vs. 1.88B
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The US unemployment rate fell unexpectedly from 8.9% in February to 8.8% in March.
- The Australian Dollar is currently proving to be an attractive currency as Australian interest rates are holding at 4.75%, compared with lower rates in other countries, including a current interest rate of near 0% in the US.
Currensee Community: 86% are short,14% are long. 277 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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