AUD/USD Apr.04 – Aussie Closes Week Again at All

The Aussie closed the week up against the US Dollar Friday, an all-time high. The Aussie closed the week at 1.0383, up 0.52% for the day and up 1.35% for the week by the close of Friday’s trading.

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

AUD/USD Technicals

• Previous sessions: The Aussie climbd to an all time high of 1.394 during the session before consolidating to its current level by the close of trade.
• Current range: 1.0316- 1.0397
• Further levels: Below: 1.0359, 1.0365, 1.0375 Above: 1.0391, 1.0397, 1.0407
• AUD / USD likely to find support at 1.0306, and resistance at 1.0394.

AUD/USD Fundamentals

• 09:30   US         FOMC Member Evans Speaks
• 18:00   New Zealand         NZIER Business Confidence         Prev. 8
• 19:15   US         Fed Chairman Bernanke Speaks            
• 19:30   Australia         AIG Services Index         Prev. 48.7
• 12:30   Australia         Trade Balance       Exp. 1.15B Vs. 1.88B

* All times are GMT.

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

AUD/USD Sentiment

• The US unemployment rate fell unexpectedly from 8.9% in February to 8.8% in March.
• The Australian Dollar is currently proving to be an attractive currency as Australian interest rates are holding at 4.75%, compared with lower rates in other countries, including a current interest rate of near 0% in the US.

Currensee Community: 86% are short,14% are long. 277 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.