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AUD/USD holds on to the big gains made after QE2, enjoying strong indicators and settling in a high range. Is it getting ready for the next move?  Here’s a quick update on technicals, fundamentals and community trends.

aud to usd November 8

AUD to USD at 1.0120.

AUD/USD Technicals

  • Asian session:  AUD/USD traded in a narrow range, around.
  • Current Range between 1.0080 to 1.0180.
  • Further levels in both directions: Below 1.0080, 1.0023, 1.0000, 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 ANZ Job Advertisements +0.6% – positive sign for official job figures.
  • 16:30 US FOMC member James Bullard talks.
  • 20:30 US FOMC member Kevin Warsh talks.
  • 00:30 (Tuesday) NAB Business Confidence.

AUD/USD Sentiment

  • The surprising rate hike in Australia gave a boost to the Aussie, and its better positioned for a rise.
  • QE2 weakened the US dollar, and sent AUD/USD to new historic highs. So is gold.
  • The Aussie shrugged off the greenback-positive jobs report.
  • Employment figures in Australia later this week will probably help the Aussie.
  • Currensee Community: 92% are short, 8% are long. 324 open positions in real accounts trading this pair at the moment. Is the community seeing a big correction?

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..