AUD/USD Dec. 6 – Falling to Support
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AUD/USD Dec. 6 – Falling to Support

AUD/USD is taking a breather after Friday’s ride, and before the rate decision is made. Will the decision weaken the Aussie? Here’s a quick update on technicals, fundamentals and community trends.

aud to usd forecast December 6

AUD to USD dropping to 0.9850.

AUD/USD Technicals

  • Asian session:  AUD USD fell under 0.9915 and traded in range.
  • Current Range:  0.9850 to 0.9915
  • Further levels in both directions: Below  0.9850, 0.9724, 0.9660, 0.9540, 0.9460, 0.9366. Above 0.9915,  1.0000, 1.0080, 1.0180, 1.0220, 1.03.
  • Overcoming 0.9660 is a bullish sign.
  • AUD/USD Parity in reach but there’s a lot of resistance towards this line.

AUD/USD Fundamentals

  • 00:00 Ben Bernanke spoke on 60 minutes. His outlook was relatively optimistic, boosting the dollar.
  • 00:30 Australian ANZ Job Advertisements. Actual +2.9%.
  • 22:30 Australian AIG Construction Index.
  • 3:30 (Tuesday) Australian rate decision. Exp. rate unchanged at 4.75%.

AUD/USD Sentiment

  • The RBA is expected to leave the interest rate unchanged at 4.75% and might hint that no more rate hikes are expected in the near future, as he already said in parliament. Note that Glenn Stevens surprised the markets last time, so anything is possible.
  • Trichet eventually managed to calm the markets with bond buying. This helps the Aussie as well.
  • The Aussie enjoyed the US Non-Farm Payrolls on Friday, but the rate decision is becoming more important now.
  • Currensee Community: 91% are short, 9% are long. 384 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..

Yohay Elam

Yohay Elam

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.