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AUD/USD gradually moved up, walking through an uptrend channel back to parity. Will it hold to it this time?Here’s a quick update on technicals, fundamentals and community trends.

aud to usd parity December 2010

AUD to USD in range

AUD/USD Technicals

  • Previous sessions:  AUD/USD gradually walked up the channel.
  • Current Range:  1.0000 to 1.0080
  • Further levels in both directions: Below  1, 0.9915, 0.9840, 0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above    1.0080, 1.0180, 1.0220, 1.03.
  • 0.9660 strong support below.
  • AUD/USD Parity needs to confirmed.
  • Uptrend channel working throughout the week. The uptrrend support is more significant than the resistance line.

AUD/USD Fundamentals

  • 21:45 (Wednesday) New Zealand GDP. Exp. +0.1%.
  • 13:30 (Thursday) US Unemployment Claims. Exp. 421K.
  • 13:30 US Durable Goods Orders. Exp. -0.5%. Core figure, exp. +1.7%
  • 13:30 US Personal Spending. Exp. +0.5%.
  • 14:55 US Revised Consumer Sentiment. Exp. 74.7 points.
  • 15:00 US New Home Sales. Exp. 301K.

For the major events due later in the week, see the AUD/USD forecast.

AUD/USD Sentiment

  • The  never ending  military drills held by South Korea  alleviated tensions in that region, but didn’t affect the Aussie. Maybe the new one will –  it’s a bigger one.
  • Any rumor from China rocks the Australian dollar stronger than domestic figures these day.
  • Australian fundamentals continue to support the Aussie when there isn’t fear in the market.
  • Currensee Community: 83% are short, 17% are long. 408 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.