AUD/USD erased gains and the support line after the news about the Korean clashes broke out. There are lots of economic indicators to rock the pair as well. Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD under 0.9863.
- Asian session: Active session Aussie break down as low as 0.9775.
- Current Range: 0.9725 to 0.9860
- Further levels in both directions: Below 0.9725, 0.9660. Above 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Parity is a big technical hurdle.
- Significant support is at 0.9660.
- 13:30 US GDP. Exp. +2.3%.
- 15:00 US Existing Home Sales. Exp. 4.5 million.
- 19:00 US FOMC Meeting Minutes
- 23:00 Australian CB Leading Index.
- 00:30 (Wednesday) Australian Construction Work Done. Exp. 2.3%.
- North Korean attack on South Korea surprises the world and triggers risk aversive trading. The Aussie is sensitive to this news.
- Irish crisis is far from over. This has a small impact on the Aussie.
- 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.
- Currensee Community: 93% are short, 7% are long. 367 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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