The Aussie continued its rally against the US Dollar reaching a monthly high before pulling back for the week’s close. The rally continued on the back of an improved economic growth outlook for Australia. The Aussie closed the week at 1.0133 down 0.08%. Here’s a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: AUD/USD traded higher Friday, topping January’s high against the US Dollar. The Aussie returned some of its gains toward the end of the session following a better than expected US unemployment rate, closing the week at 1.0133. Current range: 1.0112 – 1.0201 Further levels: Below: 1.0122, 1.0126, 1.0133 Above: 1.0144, 1.0148, 1.0155 AUD / USD likely to find support at Tuesday’s low of 0.9962, and resistance at 1.0223. AUD/USD Fundamentals 00:30 – Australia – ANZ Job Advertisements m/m 00:30 – Australia – Retail Sales m/m Exp. 0.5% 20:00 – US – Consumer Credit m/m Exp. 2.2B * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment The Reserve Bank of Australia raised its economic growth and inflation outlook for the year. The Bank forecasts a growth rate of 4.35% and an inflation rate of 3%. This in spite of the economic damage caused by the Queensland flooding. The economic forecast may yet be dampened by the Queensland flooding recovery efforts in the event that the economic forecast released by the Reserve Bank fails to achieve its expectations. This would have negative implications for the Australian Dollar. The Australian Dollar reversed its high gains on Friday following a report from the US Department of Labor that unemployment dropped from 9.4% to 9.0%, the lowest since May 2009. Currensee Community: 94% are short,6% are long. 417 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead. Tamar Schoppik Tamar Schoppik View All Post By Tamar Schoppik AUD/USD Daily OutlooksMinors share Read Next Forex Daily Outlook – February 7 2011 Anat Dror 12 years The Aussie continued its rally against the US Dollar reaching a monthly high before pulling back for the week's close. The rally continued on the back of an improved economic growth outlook for Australia. The Aussie closed the week at 1.0133 down 0.08%. Here's a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: AUD/USD traded higher Friday, topping January's high against the US Dollar. The Aussie returned some of its gains toward the end of the session following a better than expected US unemployment rate, closing the week at 1.0133. Current range: 1.0112 - 1.0201 Further… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.