The Australian Dollar was lower Monday against the US dollar, finally reversing the uptrend. The Aussie was trading at 1.0355, down 0.31% at the time of this writing. Has the Aussie reached its top? Here’s a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The Aussie dropped sharply mid-session from 1.0377 to1.0339 consolidating to the 1.0355 level for most of the remainder of the session. From a technical point, the Aussie appears to be in a predictive correction as we noted previously as the Aussie was seemingly overbought. However traders seem to be taking neutral positions on the currency awaiting further developments to conclude which direction the Aussie will be heading. Current range: 1.0336 – 1.0417 Further levels: Below: 1.0324, 1.0332, 1.0337 Above: 1.0350, 1.0358, 1.0363 AUD / USD likely to find support at 1.0270, and resistance at today’s high of 1.0417. AUD/USD Fundamentals 12:30 Australia Cash Rate Exp. 4.75% Prev. 4.75% 12:30 Australia RBA Rate Statement 10:00 US ISM Non-Manufacturing PMI Exp.59.8 Prev.59.7 11:15 US FOMC Member Plosser Speaks 14:00pm US FOMC Meeting Minutes 21:30pm Australia Home Loans m/m Exp. -2.6% Prev. -4.5% * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment Australia today released data showing that inflation rose in March. In addition job openings rose as well for the eleventh consecutive month. The US Dollar was higher against other major currencies today on lower trader risk appetite. Currensee Community: 86% are short, 14% are long. 293 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead. Tamar Schoppik Tamar Schoppik View All Post By Tamar Schoppik AUD/USD Daily Outlooks share Read Next Forex Daily Outlook – April 5 2011 Anat Dror 12 years The Australian Dollar was lower Monday against the US dollar, finally reversing the uptrend. The Aussie was trading at 1.0355, down 0.31% at the time of this writing. Has the Aussie reached its top? Here's a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The Aussie dropped sharply mid-session from 1.0377 to1.0339 consolidating to the 1.0355 level for most of the remainder of the session. From a technical point, the Aussie appears to be in a predictive correction as we noted previously as the Aussie was seemingly overbought. However traders seem to be taking neutral positions… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.