AUD/USD enjoys a good start to the week, breaking above a resistance line, and now has parity in sight. Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD working its way up.
AUD/USD Technicals
- Asian session: Active session sees the Aussie break above 0.9915.
- Current Range: 0.9915 to parity.
- Further levels in both directions: Below 0.9915, 0.9863, 0.9750, 0.9660. Above 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Parity is a big technical hurdle.
- Significant support is at 0.9660.
AUD/USD Fundamentals – No indicators today.
AUD/USD Sentiment
- The formal Irish request for a bailout, in a smaller size than expected, triggers risk appetite. The Aussie enjoys it.
- Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro. European debt issues hurt the Aussie.
- There’s still a high chance of a rate hike from China. China’s hike of the reserve ratio rate on Friday hurt the Aussie.
- S&P downgraded the outlook for Australia’s neighbor, New Zealand, but this currently has a limited impact on AUD/USD.
- Currensee Community: 93% are short, 7% are long. 355 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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