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AUD/USD begins to feel the heat from Europe and finds support at parity. Will the Aussie fall from the high range or get a boost from employment figures?  Here’s a quick update on technicals, fundamentals and community trends.

aud to usd parity support november 10

AUD to USD supported at parity.

AUD/USD Technicals

  • Asian session:  Active session found the Aussie testing parity.
  • Current Range between 1.0023 to 1.0080
  • Further levels in both directions: Below  1.0023, 1.0000, 0.9915, 0.9850, 0.9750, 0.9669. Above 1.0080, 1.0180, 1.0220, 1.03.
  • Parity is a strong support line now.
  • 1.0180 is a strong line of resistance before uncharted territory.

AUD/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 00:30 Australian Home Loans. Exp. +1.1%. Actual +1.3%. Aussie positive.
  • 2:30 Chinese Trade Balance. Exp. +25.3 billion. Actual +27.2 billion.
  • 13:30 US Unemployment Claims. Exp. 451K.
  • 13:30 US Trade Balance. Exp. -45 billion.
  • 19:00 US Federal Budget Balance. Exp. -153 billion.
  • 00:00 Australian MI Inflation Expectations.
  • 00:30 Australian employment data. Employment Change exp. +20K. Unemployment rate 5%.

AUD/USD Sentiment

  • QE2 weakened the US dollar, and sent AUD/USD to new historic highs. So is gold.
  • European problems begin to weigh on the whole world.
  • Employment figures in Australia will probably help the Aussie.
  • Currensee Community: 86% are short, 14% are long. 354 open positions in real accounts trading this pair at the moment. Is the community seeing a big correction?

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..