Home AUD/USD – Falling in Range

AUD/USD continues to lose ground after bouncing short of parity, but is still in the same range.  Will it stabilize or continue dropping? Here’s a quick update on technicals, fundamentals and community trends.

aud to usd falling in the range

AUD to USD dropping towards 0.9725.

AUD/USD Technicals

  • Asian session:  AUD USD rose all the way to 0.9962 but retreated..
  • Current Range:  0.9725 to 0.9850
  • Further levels in both directions: Below  0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above 0.9850, 0.9915,  1.0000, 1.0080, 1.0180, 1.0220, 1.03.
  • A loss of 0.9725 will accelerate losses.
  • AUD/USD Parity still not far away, but a lot of resistance on any move there.

AUD/USD Fundamentals

  • 00:30 (Wednesday) Australian Home Loans. Exp. +0.1%.Actual 1.9% – gave a temporary boost to the Aussie.
  • 00:30 (Thursday) Australian Employment Change. Exp. +21,300.
  • 00:30 (Thursday) Australian Unemployment Rate. Exp. 5.2%.
  • 02:00 (Thursday) Chinese Trade Balance. Exp. 21.2 billion.
  • 13:30 (Thursday) US Unemployment Claims. Exp. 426K.

AUD/USD Sentiment

  • Rumors about a rate hike in China weigh on the Aussie.
  • Australian employment data will rock the Aussie. Last week, Australian data was ignored as soon as China released its numbers. This could happen again now.
  • US Treasury yields are on the rise. This supports the dollar.
  • The RBA’s statement focused on savings instead of the drop in the retail sales and didn’t hint about pausing for a long time. This is a good sign.
  • Currensee Community: 94% are short, 6% are long. 417 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.