AUD/USD is looking for a direction after getting a blow from the European troubles, but is now looking upwards after Glenn Stevens’ speech. Will it recover? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD recovering
AUD/USD Technicals
- Asian session: AUD USD started with a nice gap, but it was closed afterwards. It’s now on the move – northbound.
- Current Range: 0.9660 to 0.9725.
- Further levels in both directions: Below 0.9660, 0.9540, 0.9460, 0.9366. Above 0.9725, 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Parity is a big technical hurdle, but unlikely to be tackled in current conditions.
- Holding on to 0.9660 is very important for the Aussie.
AUD/USD Fundamentals
- 00:00 Australian HIA New Home Sales. +2.4%.
- 7:30 Australia central bank governor Glenn Stevens’ talked, and didn’t hurt the Aussie as he did last week.
- 00:15 (Tuesday) RBA assistant governor Guy Debelle talks.
- 00:30 (Tuesday) Australian Building Approvals. Exp. +1.6%.
- 00:30 (Tuesday) Australian Private Sector Credit. Exp. 0.2%.
- 00:30 (Tuesday) Australian Current Account. Exp. -6.5 billion.
AUD/USD Sentiment
- North Korean attack on South Korea surprises the world and triggers risk aversive trading. The Aussie is sensitive to this news, and now suffers from the fresh Korean tensions.
- Contagion spreading: Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro. Portugal might receive aid soon.
- Light Thanksgiving trading means that the markets will probably hardly move until a major news, from Europe for example, can rock the markets on thin trading volume.
- Currensee Community: 92% are short, 8% are long. 358 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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