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 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.
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