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AUD/USD – Looking For Direction

AUD/USD is trading around a pivotal line, looking for a direction. A rate hike in China could hurt the Aussie, even though Australian jobs are looking good. Here’s a quick update on technicals, fundamentals and community trends.

aud to usd forecast December 10

AUD to USD flirting with 0.9850.

AUD/USD Technicals

  • Asian session:  AUD USD traded under 0.9850..
  • Current Range:  0.9850 to 0.9915.
  • Further levels in both directions: Below  0.9850, 0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above  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

  • 2:00 Chinese Trade Balance. Exp. 21.2 billion. Actual 22.9 billion – good for the Aussie.
  • 13:30 US Trade Balance. Exp. -43.5 billion.
  • 13:30 US Import Prices. Exp. +0.9%.
  • 14:55 US Consumer Sentiment. Exp. 72.4 points.
  • 19:00 US Federal Budget Balance. Exp. -129 billion.

AUD/USD Sentiment

  • Rumors about a rate hike in China weigh on the Aussie.
  • Australian employment data was far better than expected, with a huge gain in jobs. This temporarily boosted the Australian 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: 84% are short, 16% are long. 441 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.