AUD/USD Dec. 2 – Choppy Around Important Line

0

AUD/USD s struggling around the important line after mixed data was released in Australia. Today’s busy calendar promises lots of action? Here’s a quick update on technicals, fundamentals and community trends.

aud to usd december 2

AUD to USD struggling

AUD/USD Technicals

  • Asian session:  AUD USD dropped on the release of retail sales, up to 0.9620 and recovered.
  • Current Range:  0.9660 to 0.9724.
  • Further levels in both directions: Below  0.9660, 0.9540, 0.9460, 0.9366. Above 0.9725, 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
  • 0.9660 continues to be an important line.
  • 0.9540 proved to be strong support.

AUD/USD Fundamentals

  • 00:30 Australian Retail Sales. Exp. +0.4%. Actual -1.1% – big disappointment.
  • 00:30 Australian Trade Balance. Exp. +2 billion. Actual +2.6 billion. Good figure.
  • 13:30 US Unemployment Claims. Exp. 425K.
  • 15:00 US Pending Home Sales. Exp. -0.7%.
  • 17:30 US FOMC member James Bullard talks.
  • 19:00 US FOMC member Elizabeth Duke talks.

AUD/USD Sentiment

  • The American Non-Farm Payrolls are getting closer, and today we have an important indicator towards this event – jobless claims.
  • 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 as the naval exercise ends.
  • Contagion slowing on high hopes that the ECB will buy large amounts of European bonds, lowering yields and allowing further bond auction by debt laden countries.
  • Currensee Community: 93% are short, 7% are long. 370 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

Comments are closed.