Home AUD/USD Mar.03-Aussie Up against US Dollar
AUD/USD Daily Outlooks

AUD/USD Mar.03-Aussie Up against US Dollar

The Aussie was up against the Greenback Wednesday following fears of continued unrest in the Middle East, overshadowing positive US economic data. The Aussie was trading at 1.0162, up 0.34% as of this writing.

Here’s a quick update on technicals, fundamentals and community trends.

AUD/USD Technicals

  • Previous sessions: The Aussie has risen steadily throughout the session, reaching a high of 1.0178 and consolidating back to 1.0162 as of this writing.
  • Current range: 1.0086- 1.0179
  • Further levels:  Below: 1.0144, 1.0149, 1.0158 Above: 1.0172, 1.0177, 1.0186
  • AUD / USD likely to find support at 1.0091, and resistance at 1.0202.


AUD/USD Fundamentals

  • 08:30   US         Unemployment Claims     Exp. 394K
  • 08:30   US         Revised Nonfarm Productivity q/q     Exp. 2.6%
  • 08:30   US         Revised Unit Labor Costs q/q       Exp. -0.6%
  • 09:00   US         FOMC Member Kocherlakota Speaks            
  • 10:00   US         ISM Non-Manufacturing PMI       Exp. 59.6
  • 10:30   US         Natural Gas Storage       Exp. -89B

*All times are GMT.

For the major events due later in the week, see the  AUD/USD forecast.

AUD/USD Sentiment

  • New Australian data shows GDP was as expected, indicating accelerated economic growth in the 4th quarter of 2010.
  • Ongoing tension in the Middle East has pushed oil prices higher, raising concerns over the global oil supply and driving the US Dollar lower

Currensee Community: 92% are short, 8% are long. 434 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.