AUD/USD Apr.13-Aussie Down Again Against US Dollar On Japanese

The Australian Dollar was lower Tuesday against the US dollar, on the back of lower Asian markets following the Japanese nuclear crisis level increase, continuing the latest trend reversal.

The Aussie was trading at 1.0477, down 0.19% at the time of this writing.

Where is the Aussie headed?

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

AUD/USD Technicals

• Previous sessions: The Aussie had a mixed session Tuesday, climbing to 1.0519, the high of the day at the end of the first half of the session. The Aussie then fell to a low of 1.0451 before consolidating to its present level.
• Current range: 1.0390 – 1.0523
• Further levels: Below: 1.0431, 1.0442, 1.0460 Above: 1.0489, 1.0500, 1.0518
• AUD / USD likely to find support at 1.0391, and resistance at today’s high of 1.0583.

AUD/USD Fundamentals

• 01:30   Australia         Westpac Consumer Sentiment       Prev. -2.4%
• 13:30   US         Core Retail Sales m/m       Exp. 0.7% Prev. 0.7%    
• 13:30   US         Retail Sales m/m       Exp. 0.6% Prev. 1.0%    
• 15:00   US         Business Inventories m/m       Exp. 0.8% Prev. 0.9%
• 15:30   US         Crude Oil Inventories       Exp. 0.9M Prev. 2.0M          
• 18:00   Australia         RBA Gov Stevens Speaks
• 19:00   US         Beige Book

* All times are GMT.

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

AUD/USD Sentiment

• Japan upgraded the level of its Nuclear crisis at the stricken Fukushima Power Plant to a level 7, the highest international nuclear crisis level and the same level as the 1986 Chernobyl nuclear disaster.
• The US reported today that consumer confidence in April fell unexpectedly.
• The Aussie dropped lower today as Asian markets retreated due to Japan’s upgrade of the nuclear crisis level.

Currensee Community: 83% are short, 17% are long. 303 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.