The Aussie was lower today against the US Dollar as demand for the greenback rose as US Jobless claims fell more than expected and China released a higher than expected GDP, raising fears of interest rate hikes. The pair was trading at 0.9860 (-1.4%) at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: AUD/USD traded lower Thursday hitting 0.9860 at the time of this writing. The Aussie fell against the Greenback on better than expected US Jobless claims and fears of Chinese interest rate hikes following a higher than expected GDP.
- Current range: 0.9933 – 0.9982
- Further levels: Below: 0.9855, 0.9861, 0.9868 Above: 0.9881, 0.9887, 0.9894
- AUD / USD likely to find support at today’s low of 0.9833, and resistance at 1.0078.
AUD/USD Fundamentals
- 00:30 – Australia – Import Prices q/q exp. 0.9%
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- China releases GDP figures showing an increase of 9.8% as opposed to the expected 9.4%. The community expects Beijing to attempt to cool the economy by raising interest rates.
- US Initial Jobless Claims data released today was better than expected (404k as opposed to the expected 425k).
Currensee Community: 92% are short, 8% are long. 380 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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