AUD/USD continues to slide lower as a busy day full of US figures begins. Will it make a bounce? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD unable to recover.
AUD/USD Technicals
- Asian session: The jump above 0.9863 was very temporary.
- 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 is a strong resistance line.
- Significant support is at 0.9660.
AUD/USD Fundamentals
All times are GMT. Most important events emphasized.
- 00:30 Australian Monetary Policy Meeting Minutes show that the RBA is worried about inflation and also about the Aussie’s strength.
- 13:30 US PPI. Exp. +0.7%. Core PPI, exp. +0.2%.
- 14:00 US TIC Long-Term Purchases. Exp. 100 billion.
- 14:15 US Industrial Production. Exp. +0.4%.
- 14:15 US Capacity Utilization Rate. Exp. 75%.
- 15:00 US NAHB Housing Market Index. Exp. 17 points.
- 23:30 Australian MI Leading Index
- 00:30 (Wednesday) Wage Price Index. Exp. +1.1%.
AUD/USD Sentiment
- Talks about China limiting foreign activity in China sent the Shanghai stock exchange 5% lower, hurting the Aussie as well. This move on Friday still has an impact on the Aussie.
- Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro.
- Currensee Community: 87% are short, 13% are long. 346 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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