AUD/USD dropped very quickly leaving parity far behind, as global worries reached the land down under. At which technical levels will the pair stabilize? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD supported at parity.
AUD/USD Technicals
- Asian session: The Aussie struggled under parity before the big fall that sent it to the 0.9850 area.
- Current Range: 0.9850 to 0.9915
- Further levels in both directions: Below 0.9850, 0.9750, 0.9660. Above 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Parity returned to working as resistance.
- 0.9850 is only temporary support. Serious support is at 0.9660.
AUD/USD Fundamentals
All times are GMT. Most important events emphasized.
- 13:35 US FOMC member Daniel Tarullo speaks.
- 14:55 US Consumer Sentiment. Exp. 69.1 points.
AUD/USD Sentiment
- Talks about China limiting foreign activity in China sent the Shanghai stock exchange 5% lower, hurting the Aussie as well.
- European problems begin to weigh on the whole world and the Aussie finally reacted. The Irish crisis topped the G-20 agenda. Also weak European GDP added to fear.
- The rise in unemployment rate was a disappointment, but after it was explained in an expansion in the number of people in the job market. So, the Aussie is back on its feet.
- G-20 statements will rock the markets. No significant agreement is expected, but any mention of currencies will move the markets. FX is high on the agenda.
- Currensee Community: 86% are short, 14% are long. 314open positions in real accounts trading this pair at the moment. The community sure saw the correction, and sees more falls.
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..
Share
