The Australian Dollar was up today against the US dollar, following a broadly lower Greenback.
The Aussie was trading at 1.0441, up 1.08% at the time of this writing.
Has the Aussie broken the fall?
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie traded lightly up during the first half of the session and then rapidly climbed to its peak of 1.0450 in the middle of the session and then consolidated slightly to its current level.
- Current range: 1.0318 – 1.0451
- Further levels: Below: 1.0413, 1.0418, 1.0424 Above: 1.0435, 1.0440, 1.0446
- AUD / USD likely to find support at today’s low of 1.0289, and resistance at today’s high of 1.0450.
- 00:30 Australia AIG Construction Index Prev. 44.6
- 02:30 Australia Employment Change Exp. 22.7K Prev. -10.1K
- 02:30 Australia Unemployment Rate Exp. 5.0% Prev. 5.0%
- 13:30 US Unemployment Claims Exp. 385K Prev. 388K
- 15:30 US Natural Gas Storage Exp. -51B Prev. 12B
- 20:00 US Consumer Credit m/m Exp. 4.8B Prev. 5.0B
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- The US Dollar was lower against other currencies following news of an expected rate hike by the European Central Bank, and a hesitation by the Bank of Japan to do the same.
- Analysts note that the US Federal Reserve continues to believe that the US economy is on the path to recovery. However they note that that is negative potential stemming from inflation.
Currensee Community: 82% are short, 18% are long. 304 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.