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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 november 16

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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