The Aussie was up against the Greenback Wednesday following fears of continued unrest in the Middle East, overshadowing positive US economic data. The Aussie was trading at 1.0162, up 0.34% as of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie has risen steadily throughout the session, reaching a high of 1.0178 and consolidating back to 1.0162 as of this writing.
- Current range: 1.0086- 1.0179
- Further levels: Below: 1.0144, 1.0149, 1.0158 Above: 1.0172, 1.0177, 1.0186
- AUD / USD likely to find support at 1.0091, and resistance at 1.0202.
AUD/USD Fundamentals
- 08:30 US Unemployment Claims Exp. 394K
- 08:30 US Revised Nonfarm Productivity q/q Exp. 2.6%
- 08:30 US Revised Unit Labor Costs q/q Exp. -0.6%
- 09:00 US FOMC Member Kocherlakota Speaks
- 10:00 US ISM Non-Manufacturing PMI Exp. 59.6
- 10:30 US Natural Gas Storage Exp. -89B
*All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- New Australian data shows GDP was as expected, indicating accelerated economic growth in the 4th quarter of 2010.
- Ongoing tension in the Middle East has pushed oil prices higher, raising concerns over the global oil supply and driving the US Dollar lower
Currensee Community: 92% are short, 8% are long. 434 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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