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AUD/USD – Holding on to Support

AUD/USD retreated on the dollar storm, but managed to stay on top of support. How will it end the week?. Here’s a quick update on technicals, fundamentals and community trends.

aud to usd forecast December 17

AUD to USD above 0.9850

AUD/USD Technicals

  • European / US sessions:  AUD/USD traded in range, and managed to hold on despite the stronger dollar.
  • 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.
  • 0.9660 strong support below.
  • AUD/USD Parity returns to be strong resistance

AUD/USD Fundamentals

  • 15:00 US CB Leading Index. Exp. +1.2%

AUD/USD Sentiment

  • The EU Summit is now in the limelight now. A hopeful statement will help the Aussie as well.
  • The chances of a rate hike in China have dropped, and this helps the Aussie.
  • Any rumor from China rocks the Australian dollar stronger than domestic figures these day.
  • Currensee Community: 84% are short, 16% are long. 412  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.