AUD/USD is taking a breather after Friday’s ride, and before the rate decision is made. Will the decision weaken the Aussie? Here’s a quick update on technicals, fundamentals and community trends.
AUD to USD dropping to 0.9850.
AUD/USD Technicals
- Asian session: Â AUD USD fell under 0.9915 and traded in range.
- Current Range: Â 0.9850 to 0.9915
- Further levels in both directions: Below  0.9850, 0.9724, 0.9660, 0.9540, 0.9460, 0.9366. Above 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
- Overcoming 0.9660 is a bullish sign.
- AUD/USD Parity in reach but there’s a lot of resistance towards this line.
AUD/USD Fundamentals
- 00:00 Ben Bernanke spoke on 60 minutes. His outlook was relatively optimistic, boosting the dollar.
- 00:30 Australian ANZ Job Advertisements. Actual +2.9%.
- 22:30 Australian AIG Construction Index.
- 3:30 (Tuesday) Australian rate decision. Exp. rate unchanged at 4.75%.
AUD/USD Sentiment
- The RBA is expected to leave the interest rate unchanged at 4.75% and might hint that no more rate hikes are expected in the near future, as he already said in parliament. Note that Glenn Stevens surprised the markets last time, so anything is possible.
- Trichet eventually managed to calm the markets with bond buying. This helps the Aussie as well.
- The Aussie enjoyed the US Non-Farm Payrolls on Friday, but the rate decision is becoming more important now.
- Currensee Community: 91% are short, 9% are long. 384 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.
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