AUD/USD Mar.14-Aussie Rebounds against US Dollar to Close Week

The Aussie closed the week basically unchanged against the US Dollar Friday, following positive Chinese data. The Aussie closed the week at 1.0150, up 1.31% for the day and down 0.1% for the week by the close of Friday’s trading.

In what direction will the  Japanese earthquake, Middle East uncertainty, and Chinese economy pull the Aussie this week?

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

AUD/USD Technicals

• Previous sessions: The Aussie rebounded Friday by 1.31% to 1.0150 after reaching a low of 0.9974 during the morning session and then recovering the week’s loss, reaching 1.0157 during the afternoon and then consolidating to 1.0150 by the end of the session.
• Current range: 0.9969- 1.0156
• Further levels: Below: 1.0127, 1.0135, 1.0143  Above: 1.0159, 1.0167, 1.0175
• AUD / USD likely to find support at 0.9968, and resistance at 1.0184.

 AUD/USD Fundamentals

• 18:05     Australia         RBA Assist Gov Debelle Speaks
• 20:30     Australia         Monetary Policy Meeting Minutes
• 20:30       Australia         New Motor Vehicle Sales m/m

 * All times are GMT.

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

AUD/USD Sentiment

• The Chinese release new positive economic data Friday, showing a rise in consumer prices, industrial output, retail sales and investment in fixed assets. This eased investors concerns over a slowdown in the Chinese economy, Australia’s largest trading partner.

Currensee Community: 93% are short, 7% are long. 415 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.