AUD/USD is lower again today, showing continued relative weakness and dropping below support, reaching 0.9998 at the time of this writing. Have we seen the current AUD/USD top?
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Continues decline
AUD/USD Technicals
- Previous sessions: AUD/USD continued its decline against the US Dollar today trading at 0.9998 at the time of this writing.
- Current range: 0.9961 – 1.0058
- Further levels: Below: 0.995, 0.9925, 0.9917, 0.9840, 0.9724 Above: 0.999, 1.0030, 1.0035, 1.0050, 1.0075, 1.0105
- AUD / USD likely to find support at today’s low of 0.9961, and resistance at 1.0255.
AUD/USD Fundamentals
- 13:30 – USD Unemployment Claims
- 15:30 – USD Natural Gas Storage
- Tentative – USD Treasury Currency Report
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- USD gained strong momentum today after data from the labor and services sector beat market expectations.
- Traders seem to be considering the potential for a much larger AUD/USD decline.
- Short term AUD/USD sentiment is negative
- US jobs data drives USD higher
Currensee Community: 92% are short, 8% are long. 389 open positions in real accounts trading this pair at the moment. The community expecting a much larger decline in AUD/USD.
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