AUD/USD continues to lose ground at the beginning of the new week, continuing the trend from Friday. Will it find a bottom now? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD leaning lower.
AUD/USD Technicals
- Asian session: The Aussie traded around 0.9863 before heading lower.
- Current Range: 0.9750 to 0.9863
- Further levels in both directions: Below 0.9750, 0.9660. Above 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Parity returned to working as resistance.
- Serious support is at 0.9660.
AUD/USD Fundamentals
All times are GMT. Most important events emphasized.
- 00:30 Australian New Motor Vehicle Sales -0.6%.
- 13:30 US Retail Sales. Exp. +0.7%. Core retail sales, exp. +0.4%.
- 13:30 US Empire State Manufacturing Index. Exp. 13.9 points.
- 15:00 US Business Inventories. Exp. +0.6%.
- 00:30 (Tuesday) Australian Monetary Policy Meeting Minutes.
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. Ireland is now in talks about taking an aid package.
- Currensee Community: 86% are short, 14% are long. 330 open positions in real accounts trading this pair at the moment. The community saw the correction, and sees more falls.
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