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.
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