AUD/USD Outlook 5/3 – 9/3

　　The Australian dollar rose slightly against the dollar last week, climbing above 1.07 to close up to 1.0730. Next week is very busy with the press of thirteen years. Here is an overview of the events in Australia, and an analysis technique to update the AUD / USD.

　　AUD / USD has a strong upward movement, benefit from the continuing difficulties in the Euro zone, as the Euro continues to fall.

　　AUD / USD chart with the lines of support and resistance on the subject. Click to enlarge:

　　AIG Services Index: Sunday, 22:30 clock. The diffusion index rose above the critical level of 50 months for the first time since October 2011. Another positive reading would be good news in the service sector.

　　MI Inflation Gauge: Sunday, 23.30. This indicator monitors the output rate of inflation on a monthly basis, the CPI for the government press releases once per quarter. Read in February was 0.2%, indicating a very low inflation.

　　ANZ Job: Monday, 0:30. Jobs increased by 6% in February from a huge number of better indicators in nearly 12 months. If other jobs are also strong indicators this month could benefit the Australian.

　　Corporate profits business hours: Monday 12:30. This indicator has posted solid numbers in the last two months, well above market forecasts. However, the forecast calls for a slight increase of 0.3% in March. New indicator will surprise the market with strong numbers this month?

　　Current Account: Tuesday, 0:30. This indicator is published quarterly and is a duplicate of the indicator in the trade balance. The current account has improved by EUR 5.6 billion, its highest level since August 2010. However, should the measure of forecast March slide 7.9b.

　　Effective: Tuesday, 03.30. The central bank surprised markets in February, when rates stood at 4.25%, while markets expected a cut of 0.25%. The forecast for March is the rate unchanged at 4.25%.

　　Government as part of the RBA Lowe says: Tuesday, 21.30. Dealers and analysts are looking for all indices Lowe comments on future changes in monetary policy.

　　AIG Construction Index: Tuesday, 22.30. The diffusion index is based on a survey of 120 construction firms are asked to change based rate conditions. The pace of construction was to maintain the current contraction, and to read the index last month was a low 39.8.

　　GDP: Wednesday, 00.30 clock. Quarter GDP is released, and has the potential to be a market-engine. The indicator has registered strong readings in Q2 and Q3 in 2011, a growth of about 1%. The weather for the 4th Quarter, an increase of 0.7% of GDP forecast.

　　Changing Jobs: Thursday, 0:30. This indicator has surprised the markets in February, with a capacity of 46.3K. These were the main issues in December 2010. The forecast for March is a small increase of 5.2K. Forecasts for the unemployment rate is 5.2%, little changed from the previous month.

　　Trade Balance: Friday, 0:30. The trade balance is paid directly to the purchase of foreign currencies in the context, as an increase in exports means that foreigners have to buy more Australian dollars to pay for Australian goods. The forecast for March is 1.53B, 1.71B slightly below the February reading.

　　China's CPI: Friday, 01.30. China's economic indicators are important for marketers, that China is the first partner of Australia's number one trading partner. In February, inflation was higher than expected market indicator was at 4.5%. The forecast for March is down to 3.6%.

　　China's trade balance: Saturday, the provisional date of publication. This indicator is not only unstable, but the readings are often leaked to the media before the official release. The indicator hit 27.3b, the highest level since August 2010. The March forecast calls for a sharp drop-8.2b. If predictions can overcome, it would be bullish for the Aussie.

　　* All times are GMT.

　　AUD / USD Technical Analysis

　　AUD / USD opened at 1.0693. After a slight decline to the low 1.0650, the pair has risen, reaching a high of 1.0856. In its upward movement, the AUD / USD 1.0750 resistance levels of 1.08 and failed （discussed last week）. The couple then retired and closed the week at 1.0731.

　　Technical levels from top to bottom:

　　We begin with the resistance line of 1.1090, which was last tested in August 2011. The following is 1.1009, slightly above the psychologically important 1.10 levels. It is followed by a strong resistance to 1.0884. The significant level of 1.08 was raped this week, but by offering a torque resistance. Then the test is 1.0750, and could fall further in a rebound of the couple. It is followed by 1.0650, the online support is low. The following is the support level of 1.0585, which was tested in February. Here is the round figure of 1.05, which served as support in May and June and took over that role. It follows the line of 1.0383, which acted as a support level since January.

　　The round figure of 1.03 was a great trial in January, but is strong as an important level of support that the Australian dollar to remain against the dollar remains. The following is the support line of 1.0250. It is followed by 1.02, a main support level. Then 1.0080 is to support, protect, parity, level of significance. Finally, the strong support in the round figure of 0.99 is shown.

　　I am optimistic about the AUD / USD.

　　AUD / USD has moved only slightly higher this week, but the couple is more and more comfortable level of about 1.07, and even a punch line of 1.0850. Slipping badly with the Euro, the Australian investors looking for more attractive and could be an opportunity for experienced riders to represent.