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AUD/USD Nov. 22 – Rising Towards Parity

AUD/USD enjoys a good start to the week, breaking above a resistance line, and now has parity in sight. Here’s a quick update on technicals, fundamentals and community trends.

aud to usd november 22

AUD to USD working its way up.

AUD/USD Technicals

  • Asian session:  Active session sees the Aussie break above 0.9915.
  • Current Range: 0.9915 to parity.
  • Further levels in both directions: Below  0.9915, 0.9863, 0.9750, 0.9660. Above 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
  • Parity is a big technical hurdle.
  • Significant support is at 0.9660.

AUD/USD Fundamentals – No indicators today.

    AUD/USD Sentiment

    • The formal Irish request for a bailout, in a smaller size than expected, triggers risk appetite. The Aussie enjoys it.
    • Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro. European debt issues hurt the Aussie.
    • There’s still a high chance of a rate hike from China. China’s hike of the reserve ratio rate on Friday hurt the Aussie.
    • S&P downgraded the outlook for Australia’s neighbor, New Zealand, but this currently has a limited impact on AUD/USD.
    • Currensee Community: 93% are short, 7% are long. 355 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.

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

    Yohay Elam

    Yohay Elam

    Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.