The Aussie is higher against the US Dollar Thursday, following the release of a slew of uncertain US economic data. The Aussie is currently trading at 1.0125, up 0.86% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie continued to rally against the US Dollar in trading Thursday following a US Dollar that was down against all other major currencies following the release of a slew of uncertain US economic data.
- Current range: 1.0022- 1.0130
- Further levels: Below: 1.010, 1.0106, 1.0115 Above: 1.0130, 1.0136, 1.0145
- AUD / USD likely to find support at 0.9944, and resistance at 1.0130.
AUD/USD Fundamentals
- Day 1 – ALL – G20 Meetings
- 08:00 – US – Fed Chairman Bernanke Speaks
- 09:45 – US – Treasury Secretary Geithner Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- US initial Jobless claims rose more than expected for the past week.
- US Consumer Prices rose more than expected for the month of January.
- The US economic report indicated a fair level of uncertainty regarding the health of the US economy. While manufacturing and consumer prices data was positive, inflation and jobless rates information seemed negative.
Currensee Community: 92% are short, 8% are long. 443 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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