The Aussie closed the week up against the US Dollar Friday, setting an all-time high for the second consecutive week, on the back of positive Australian employment data. The Aussie closed the week at 1.0581, up 0.95% for the day and up 1.6% 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 traded sideways for most of the session, falling to the daily low and then climbing quickly to hit its daily and highest ever high towards the close of the session.
- Current range: 1.0454- 1.0566
- Further levels: Below: 1.0501, 1.0509, 1.0521 Above: 1.0541, 1.0549, 1.0561
- AUD / USD likely to find support at 1.0411, and resistance at Friday’s high of 1.0581.
AUD/USD Fundamentals
- 10:15 US FOMC Member Dudley Speaks
- 16:00 US FOMC Member Evans Speaks
- 17:15 US FOMC Member Yellen Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- Positive Australian employment data released on Friday caused the Aussie to gain against the US Dollar, setting a new all-time high. The data showed that the unemployment rate fell to 4.9%, the lowest in the last 27 months. Further strengthening the Aussie was concern over a possible US government employee shutdown.
- Over the past week, the RBA left interest rates steady at 4.75% stating that inflation was in-line with policy goals.
Currensee Community: 79% are short, 21% are long. 268 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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