The Aussie closed the week slightly lower against the US Dollar Friday, following good US economic data. It closed the week at 1.0137, down 0.07% for the day and 0.11% for the week by the end of trading. Will the US open its oil reserves to ease the soaring price of oil? Here’s a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The fell to 1.0074 during trading on Friday, the lowest level in two weeks, before consolidating to the closing price of 1.0137 for the week. Current range: 1.0076- 1.0150 Further levels: Below: 1.0116, 1.0121, 1.0129 Above: 1.0142, 1.0147, 1.0155 AUD / USD likely to find support at 1.0074, and resistance at 1.0201. AUD/USD Fundamentals 15:00 US Consumer Credit m/m Exp. 3.6B Vs. 6.1B 19:30 Australia NAB Business Confidence * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment The latest US economic data on unemployment (a greater than expected drop of 8.9%) and non-farm payrolls is confirming the slow but steady recovery of the US economy. By the end of the week the Aussie had returned its gains from earlier in the week after the RBA announced it would keep the cash interest rate at 4.75% citing that it was expected that inflation would be held in check by an expected easing of employment growth and a strong Australian Dollar. The direction of the Australian economy remains unclear in the eyes of investors with strong consumer demand and expanding consumer credit. However the strong level of the Aussie is pinching exporters and causing a growing trade deficit. Monday’s report of number of jobs advertised is an important economic indicator. Currensee Community: 93% are short, 7% are long. 443 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead. Tamar Schoppik Tamar Schoppik View All Post By Tamar Schoppik Other Forex Stuff share Read Next Forex Daily Outlook – March 7 2011 Anat Dror 12 years The Aussie closed the week slightly lower against the US Dollar Friday, following good US economic data. It closed the week at 1.0137, down 0.07% for the day and 0.11% for the week by the end of trading. Will the US open its oil reserves to ease the soaring price of oil? Here's a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The fell to 1.0074 during trading on Friday, the lowest level in two weeks, before consolidating to the closing price of 1.0137 for the week. Current range: 1.0076- 1.0150 Further levels: Below: 1.0116,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.