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The AUD continued its strong highs against the USD into the new year with a slight pull back. This trend is expected to continue in the week ahead with a number of key data releases by the US Federal Reserve.  Here’s a quick update on technicals, fundamentals and community trends.
aud to usd january 3AUD to USD on high ground

AUD/USD Technicals

  • Previous sessions: AUD / USD continuing its upward trend, breaking through to 1.0246 and settling back to 1.0231.
  • Current range: 1.0189 to 1.0255
  • Further levels: Below: 1.0180, 1.0080, 0.9917, 0.9840, 0.9724, 0.9960, 0.9540, 0.9465, 0.9366 Above: 1.0246, 1.03
  • AUD to USD parity remains a strong support line

AUD/USD Fundamentals

  • 10:00 US ISM Manufacturing PMI exp. 57.1
  • 10:00 US Construction Spending
  • 10:00 US ISM Manufacturing Prices

* All times are GMT.

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

AUD/USD Sentiment

  • U.S. consumer confidence unexpectedly dropped in December but full recovery expected quickly
  • Solid US manufacturing growth expected through the first quarter of 2011
  • Improvement expected in manufacturing, construction indices
  • China shows indications of slower growth
  • Currensee Community: 93% are short, 7% are long. 367 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.