AUD/USD had a rocky start to the new month, falling on one indicator and bouncing up on another. Will it break out of the low range? In which direction? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD in range
AUD/USD Technicals
- Asian session: AUD USD dropped to support on GDP and bounced back on Chinese PMI. It remained in range.
- Current Range: 0.9540 to 0.9660.
- Further levels in both directions: Below 0.9540, 0.9460, 0.9366. Above 0.9660, 0.9725, 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- 0.9660 turned from strong support to strong resistance.
- 0.9540 proved to be strong support.
AUD/USD Fundamentals
- 00:30 Australian GDP. Exp. +0.5%. Actual +0.2%. Disappointment.
- 1:00 Chinese Manufacturing PMI. Exp. 54.8. Actual 55.2. Boosts the Aussie.
- 5:30 Austalian Commodity Prices. Actual 44.4% (year over year).
- 13:15 US ADP Non-Farm Payrolls. Exp. 70K.
- 14:10 US FOMC member Janet Yellen talks.
- 15:00 US ISM Manufacturing PMI. Exp. 56.4 points.
- 15:00 US Construction Spending. Exp. -0.3%.
- 19:00 US Beige Book.
AUD/USD Sentiment
- The American Non-Farm Payrolls is getting closer, and today we have two important indicators that will provide hints towards the NFP.
- North Korean attack on South Korea surprises the world and triggers risk aversive trading. The Aussie is sensitive to this news, but the Korean tensions are slowly defusing.
- Contagion spreading: Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro. Portugal might receive aid soon. Here’s the latest contagion update.
- Currensee Community: 92% are short, 8% are long. 372 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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