AUD/USD keeps on trading in a high range, disregarding fears in other parts of the world. Is it getting ready for the next move? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD at 1.01.
AUD/USD Technicals
- Asian session: AUD/USD leaned down, but remained in range..
- 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 is a strong support line now.
- AUD/USD has uncharted areas above.
AUD/USD Fundamentals
All times are GMT. Most important events emphasized.
- 00:30 NAB Business Confidence. Actual +8 points.
- 15:00 US IBD/TIPP Economic Optimism. Exp. 47.8 points.
- 15:00 US Wholesale Inventories. Exp. +0.6%.
- 23:30 Australian Westpac Consumer Sentiment.
- 00:30 (Wednesday) Australian Home Loans. Exp. +1.1%.
AUD/USD Sentiment
- QE2 weakened the US dollar, and sent AUD/USD to new historic highs. So is gold.
- The surprising rate hike in Australia gave a boost to the Aussie, and its better positioned for a rise.
- The Aussie shrugged off the greenback-positive jobs report and bad news in Europe as well.
- Employment figures in Australia later this week will probably help the Aussie.
- Currensee Community: 92% are short, 8% are long. 354 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..
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