The Australian Dollar traded higher Thursday against the US dollar, following a US report of higher than expected US jobless claims.
The Aussie was trading at 1.0541, up 0.32% 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 traded lower in the first part of the session reaching a low of 1.0474. By late morning the Aussie reversed and climbed higher throughout the session reaching 1.0547 before pulling back slightly to its current level.
- Current range: 1.0458 – 1.0549
- Further levels: Below: 1.0506, 1.0518, 1.0524 Above: 1.0542, 1.0554, 1.0560
- AUD / USD likely to find support at 1.0391, and resistance at today’s high of 1.0583.
AUD/USD Fundamentals
- 13:30 US Core CPI m/m Exp. 0.2% Prev. 0.2%
- 13:30 US CPI m/m Exp. 0.5% Prev. 0.5%
- 13:30 US Empire State Manufacturing Index Exp. 17.1 Prev. 17.5
- 14:00 US TIC Long-Term Purchases Exp. 59.4B Prev. 51.5B
- 14:15 US Capacity Utilization Rate Exp. 77.5% Prev. 77.0%
- 14:15 US Industrial Production m/m Exp. 0.5% Prev. 0.0%
- 14:55 US Prelim UoM Consumer Sentiment Exp. 68.7 Prev. 67.5
- 14:55 US Prelim UoM Inflation Expectations 4.6%
- All Day ALL G20 Meetings
- 16:15 US FOMC Member Evans Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The US reported today that jobless claims were higher than expected last week. In a spate report, the US reported lower than expected PPI (Producer Price Inflation) for March.
Currensee Community: 80% are short, 20% are long. 297 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
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