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AUD/USD settled nicely above parity, at new all time highs after the QE2 decision. It shrugged off the good Non-Farm Payrolls report in the US.Will it close higher?  Here’s a quick update on technicals, fundamentals and community trends.

aud usd non farm payrolls november 5

AUD to USD far enough from parity, at 1.0150.

AUD/USD Technicals

  • Asian session:  AUD/USD traded in a narrow range, well above 1.01.
  • Current Range between 1.0080 to 1.0180.
  • Further levels in both directions: Below 1.0080, 1.0023, 1.0000, 0.9960, 0.9915, 0.9850, 0.9750, 0.9669. Above 1.0180, 1.0220, 1.03.
  • Parity now turns into strong support.
  • AUD/USD looks forward towards uncharted areas.

AUD/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 00:30 Australian RBA Monetary Policy Statement. The RBA showed signs of concern from high rates. Aussie temporarily dipped.
  • 12:30 US Non-Farm Payrolls – big surprise – a gain of 151K jobs, triple the early expectations. Unemployment rate unchanged at 9.6%.
  • 13:30 US FOMC member Thomas Hoeing talks. He voted against QE2.
  • 14:00 US Pending Home Sales. Exp. +3.2%.
  • 17:20 US FOMC member James Bullard talks.
  • 18:00 US FOMC chairman Ben Bernanke talks.

AUD/USD Sentiment

  • The surprising rate hike in Australia gave a boost to the Aussie, and its better positioned for a rise.
  • Chinese growth continues to be an important theme for Australia.
  • QE2 weakened the US dollar, and sent AUD/USD to new historic highs.
  • The Aussie shrugged off the greenback-positive jobs report.
  • Currensee Community: 92% are short, 8% are long. 327 open positions in real accounts trading this pair at the moment. Is the community seeing a big correction?

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