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The Aussie got off to a good start against the US Dollar at the week’s start following better-than-expected Australian Home Loans data. The Aussie was trading at 1.0030, up 0.09% at the time of this writing.

Here’s a quick update on technicals, fundamentals and community trends.

 AUD/USD Technicals

  • Previous sessions: The started the week slightly higher against the US, trading at 1.0030 as of this writing.
  • Current range: 1.0003- 1.0075
  • Further levels: Below: 1.0002, 1.0025, 1.0029 Above: 1.0038, 1.0043, 1.0047
  • AUD / USD likely to find support at 0.9961, and resistance at 1.0152.

 

AUD/USD Fundamentals

  • 08:30 – US – Core Retail Sales m/m                                               Exp. 0.6%
  • 08:30 – US – Retail Sales m/m                                                                       Exp. 0.5%
  • 08:30 – US – Empire State Manufacturing Index                   Exp. 14.7
  • 08:30 – US – Import Prices m/m                                                                                 Exp. 0.9%
  • 09:00 – US – TIC Long-Term Purchases                          Exp. 91.3B
  • 10:00 – US – Business Inventories m/m                                                      Exp. 0.7%
  • 15th-18th – US – Mortgage Delinquencies
  • 10:00 – US – NAHB Housing Market Index                                            Exp. 16
  • 13:00 – US – Treasury Sec Geithner Speaks
  • 18:30 – Australia – MI Leading Index m/m
  • 19:30 – Australia – New Motor Vehicle Sales m/m

* All times are GMT.

For the major events due later in the week, see the  AUD/USD forecast.

AUD/USD Sentiment

  • Australian January Home Loans rose more than expected, reaching 2.1% (seasonally adjusted). Analysts were expected a rise of only 1.6%. This is a bullish factor for the Australian Dollar.
  • All eyes are on the Australian economy to see in which direction the Aussie is headed.

Currensee Community: 94% are short, 6% are long. 442 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.