The Aussie reversed its rise against the US Dollar Wednesday, following US Fed Chairman Bernanke’s dovish remarks trading at 1.0097 down 0.54% at the time of this writing. Was this the top of the latest Aussie rally? Here’s a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The Aussie traded lower Wednesday. Current range: 1.0152 – 1.0189 Further levels: Below: 1.0062, 1.0078, 1.0088 Above: 1.0114, 1.0130, 1.0140 AUD / USD likely to find support at today’s low of 1.0089, and resistance at 1.0223. AUD/USD Fundamentals 08:30 – US – Unemployment Claims Exp. 411K 10:00 – US – Wholesale Inventories m/m Exp. 0.7% 10:30 – US – Natural Gas Storage Exp. -191B 14:00 – US – Federal Budget Balance Exp. -69.5B 17:30 – Australia – RBA Gov Stevens Speaks * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment The Reserve Bank of Australia is expected to leave interest rates mostly unchanged for 2011 due to the natural disasters that have affected the Australian economy. The Australian Dollar is the most overvalued against the US Dollar compared to other currencies. With the aftermath of the Queensland flooding and Cyclone Yasi lingering in the air as well as China’s inflationary counter measures, we can expect a downward correction ahead. Currensee Community: 92% are short,8% are long. 430 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 OutlooksMinors share Read Next Forex Daily Outlook – February 10 2011 Anat Dror 12 years The Aussie reversed its rise against the US Dollar Wednesday, following US Fed Chairman Bernanke's dovish remarks trading at 1.0097 down 0.54% at the time of this writing. Was this the top of the latest Aussie rally? Here's a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: The Aussie traded lower Wednesday. Current range: 1.0152 - 1.0189 Further levels: Below: 1.0062, 1.0078, 1.0088 Above: 1.0114, 1.0130, 1.0140 AUD / USD likely to find support at today's low of 1.0089, and resistance at 1.0223. AUD/USD Fundamentals 08:30 - US - Unemployment Claims … 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.