The Aussie rallied Thursday against the US Dollar. The Aussie was trading at 1.0142 up 0.40%, as of this writing. Technical indicators point to a reversal ahead, but for how long will the Aussie uptrend continue?
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: AUD/USD traded higher Thursday against the US Dollar. Technical data continues to indicate a bearish future for the Aussie.
- Current range: 1.0087 – 1.0155
- Further levels: Below: 1.0105, 1.0118, 1.0126 Above: 1.0147, 1.0160, 1.0168
- AUD / USD likely to find support at Thursday’s low of 0.9867, and resistance at today’s high of 1.0155.
AUD/USD Fundamentals
- 00:30 – Australia – RBA Monetary Policy Statement
- 01:00 – US – FOMC Member Kocherlakota Speaks
- 13:30 – US – Non-Farm Employment Change Exp. 138K
- 13:30 – US – Unemployment Rate Exp. 7.6%
- 13:30 – US – Average Hourly Earnings m/m Exp. 0.2%
- 18:00 – US – FOMC Member Fisher Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- US Government reports labor productivity increased more than expected in the fourth quarter of 2010.
- US Dollar stronger against other currencies today on the back of largely good financial data.
Currensee Community: 93% are short, 7% are long. 421 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
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