AUD/USD reached new float-era highs but then retreated back, still in the high range. With a few interesting releases, a strong finish is expected to this year. Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD back in range
- Previous sessions: AUD/USD made a fresh multi-year high, almost at 1.02.
- 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, 1.0200, 1.03.
- AUD USD Parity now strong and even far support.
- Uncharted territory is very close.
- 13:30 US Unemployment Claims. Exp. 416K.
- 14:45 US Chicago PMI. Exp. 61.2 points.
- 15:00 US Pending Home Sales. Exp. +1.8%
- 00:30 (Friday) Australian Private Sector Credit. Exp. +0.2%.
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- No bad news from Europe in this holiday week, help push the Aussie higher on risk appetite.
- Fears of a housing bubble in Australia also made way for some hope.
- The Chinese rate hike had an immediate and negative impact on the Aussie at the beginning of the week, but then faded away and it’s old news now.
- Currensee Community: 93% are short, 7% are long. 385 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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