AUD/USD Apr.26- Aussie Down Against US Dollar Monday
The Aussie traded lower Monday against the US Dollar closing at 1.0715, down 0.19% for the day at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie traded mostly sideways for the first few hours of the session before dropping steadily to its daily low of 1.0684 by early afternoon. The Aussie then quickly rebounded to its current level, remaining largely steady throughout the rest of the session.
- Technical indicators show a possible correction in the near term.
- Current range: 1.0684- 1.0768
- Further levels: Below: 1.0697, 1.0701, 1.0707Above: 1.0717, 1.0721, 1.0727
- AUD / USD likely to find support at 1.0540, and resistance at Monday’s high of 1.0776.
AUD/USD Fundamentals
- 13:00 US S&P/CS Composite-20 HPI y/y Exp. -3.2% Prev. -3.1%
- 14:00 US CB Consumer Confidence Exp. 64.6 Prev. 63.4
- 14:00 US Richmond Manufacturing Index Exp. 20 Prev. 20
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- This coming week will be important for the Aussie with a number of important US economic reports to be released.
- The S&P has warned that it will put the US AAA debt rating on watch, causing investor concern.
Currensee Community: 77% are short, 23% are long. 298 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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