AUD/USD Jan.7 –Aussie Continues Decline Against USD

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AUD/USD is lower again today, continuing its decline against the dollar, breaking previous support levels.  AUD/USD was trading at 0.9946 (-0.5%) at the time of this writing.

Here’s a quick update on technicals, fundamentals and community trends.

Aussie Continues Decline Against USD
Aussie Continues Decline Against USD

 

AUD/USD Technicals

  • Previous sessions: AUD/USD continued its decline against the US Dollar today trading at 0.9946 at the time of this writing.
  • Current range: 1.0015 – 0.9934
  • Further levels: Below: 0.9940, 0.9900, 0.9850 Above: 0.9985, 1.0020, 1.0075
  • AUD / USD likely to find support at today’s low of 0.9934 and resistance at 1.0225.

 

AUD/USD Fundamentals

  • 13:30 USD Unemployment Rate exp. 0.1% decrease
  • 13:30 USD Non-Farm Employment Change exp. Increase of 159k
  • 13:30 USD Average Hourly Earnings m/m
  • 14:30 USD Fed Chairman Bernanke Testifies
  • 18:30 USD FOMC Member Duke Speaks
  • 20:00 USD Consumer Credit m/m
  • 21:30 USD FOMC Member Evans Speaks

* All times are GMT.

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

AUD/USD Sentiment

  • US Jobless claims saw a greater than expected increase
  • Euro reaches 5 week low against the USD. Technical indicators point to a further decline
  • US data is more positive than European data, with the debt crisis looming over Europe

Currensee Community: 92% are short, 8% are long. 392 open positions in real accounts trading this pair at the moment. The community expecting further declines in AUD/USD. 

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