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The Australian Dollar was lower Thursday against the US Dollar after the US reported a better than expected jobless report, showing the lowest level of jobless claims since May 2008.

The Aussie was trading at 1.0150 down 0.20% at the time of this writing.

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

AUD/USD Technicals

  • Previous sessions: The Aussie peaked at 1.0185 in early afternoon trading before gradually falling to 1.0128 by late afternoon and then consolidating to its current level of 1.0150.
  • Current range: 1.0125 – 1.0189
  • Further levels: Below: 1.0125, 1.0129, 1.0136 Above: 1.0147, 1.0151, 1.0158
  • AUD / USD likely to find support at Wednesday’s low of 1.0086, and resistance at 1.0202.

AUD/USD Fundamentals

  • 08:30   US         Non-Farm Employment Change    Exp. 180K Vs. 36K    
  • 08:30   US         Unemployment Rate                                                     Exp. 9.1% Vs.9.0%    
  • 08:30   US         Average Hourly Earnings m/m                                   Exp. 0.2% Vs. 0.4%      
  • 10:00   US         FOMC Member Yellen Speaks            
  • 10:00   US         Factory Orders m/m                                                                           Exp.2.1% Vs. 0.2%

* All times are GMT.

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

AUD/USD Sentiment

  • In the latest positive US economic report, US Initial Jobless claims for last week fell unexpectedly, reaching the lowest level since may 2008.
  • Australian home building permit requests was reported today to have declined for the month of January by a seasonally adjusted 15.9%, reaching its lowest level since November 2002.

Currensee Community: 93% are short, 7% are long. 424 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.