AUD/USD made its way up in the high range, but then dropped sharply. Will we continue seeing this high range? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD in high range
AUD/USD Technicals
- Previous sessions: AUD/USD gradually climbed, but then bounced well before resistance.
- Current Range: 1.0080 to 1.0180.
- Further levels in both directions: Below 1.0080, 1, 0.9915, 0.9840, 0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above 1.0180, 1.0220, 1.03.
- AUD USD Parity now strong and even far support.
- Multi-year high of 1.0180 serves as strong resistance.
AUD/USD Fundamentals
No events today, but the calendar becomes busier on Thursday.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The Chinese rate hike had an immediate and negative impact on the Aussie at the beginning of the week, but then faded away.
- Fears of a housing bubble in Australia also made way for some hope.
- No bad news from Europe in this holiday week, help push the Aussie higher on risk appetite.
- Currensee Community: 92% are short, 8% are long. 360 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
Share
