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 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?
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