AUD/USD gradually moved up, walking through an uptrend channel back to parity. Will it hold to it this time?Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD in range
- Previous sessions: AUD/USD gradually walked up the channel.
- Current Range: 1.0000 to 1.0080
- Further levels in both directions: Below 1, 0.9915, 0.9840, 0.9725, 0.9660, 0.9540, 0.9460, 0.9366. Above 1.0080, 1.0180, 1.0220, 1.03.
- 0.9660 strong support below.
- AUD/USD Parity needs to confirmed.
- Uptrend channel working throughout the week. The uptrrend support is more significant than the resistance line.
- 21:45 (Wednesday) New Zealand GDP. Exp. +0.1%.
- 13:30 (Thursday) US Unemployment Claims. Exp. 421K.
- 13:30 US Durable Goods Orders. Exp. -0.5%. Core figure, exp. +1.7%
- 13:30 US Personal Spending. Exp. +0.5%.
- 14:55 US Revised Consumer Sentiment. Exp. 74.7 points.
- 15:00 US New Home Sales. Exp. 301K.
For the major events due later in the week, see the AUD/USD forecast.
- The never ending military drills held by South Korea alleviated tensions in that region, but didn’t affect the Aussie. Maybe the new one will – it’s a bigger one.
- Any rumor from China rocks the Australian dollar stronger than domestic figures these day.
- Australian fundamentals continue to support the Aussie when there isn’t fear in the market.
- Currensee Community: 83% are short, 17% are long. 408 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.