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.
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