AUD/USD broke above parity on global optimism. Will it hold on to parity or drop?. Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD parity taken
AUD/USD Technicals
- Asian session: AUD USD traded under parity and managed to take it..
- Current Range: 1.00 to 1.0080
- Further levels in both directions: Below 1, 0.9915, 0.9850, 0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above 1.0080, 1.0180, 1.0220, 1.03.
- 1.0080 next hurdle.
- AUD/USD Parity now provides support.
AUD/USD Fundamentals
- 00:30 (Tuesday) NAB Business Confidence. Actual 6 points.
- 13:30 US Retail Sales. Exp. +0.6%. Core Retail Sales, exp. +0.7%.
- 13:30 US PPI. Exp. +0.6%, Core PPI exp. +0.2%.
- 15:00 US Business Inventories. Exp. +0.9%.
- 19:15 US Rate decision. No change expected.
- 23:30 Westpac Consumer Sentiment
- 00:00 (Wednesday). RBA Assistant Governor Guy Debelle talks.
AUD/USD Sentiment
- The chances of a rate hike in China have dropped, and this helps the Aussie.
- Any rumor from China rocks the Australian dollar stronger than domestic figures these day.
- Australian employment data was far better than expected, with a huge gain in jobs. This temporarily boosted the Australian dollar.
- Also the hopes of wider solution for the European debt crisis raises optimism.
- Weak retail sales in New Zealand weighed on the Aussie, but only for a short time.
- Currensee Community: 85% are short, 15% are long. 396 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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