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The Australian Dollar traded lower today against the US Dollar as a result of a disappointing November trade balance and fears that floods in Queensland would negatively affect economic growth. At the time of this writing the pair was trading at 0.9859 (-0.99%).

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

AUD/USD Technicals

  • Previous sessions: AUD/USD traded lower Tuesday hitting 0.9859 at the time of this writing.  
  • Current range: 0.9821 – 0.9895
  • Further levels: Below: 0.9854, 0.9860, 0.9868 Above: 0.9882, 0.9888, 0.9896
  • AUD / USD likely to find support at today’s low of 0.9821, and resistance at 1.0015.

 

AUD/USD Fundamentals

  • 00:30 Australian – Home Loans m/m
  • 13:30 US – Import Prices m/m
  • 13:30 US – Treasury Sec Geithner Speaks
  • 15:00 US – IBD/TIPP Economic Optimism
  • 15:30 US – Crude Oil Inventories
  • 18:00 US – FOMC Member Fisher Speaks
  • 19:00 US – Beige Book
  • 19:00 US – Federal Budget Balance

* All times are GMT.

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

 

AUD/USD Sentiment

  • Continuing floods in Queensland spark fears regarding of a negative affect on growth due to disruption of the area’s coal exports.
  • Chinese Money Supply grew at a rate of 19.7% in December, the fastest in seven months.

Currensee Community: 90% are short, 10% are long. 415 open positions in real accounts trading this pair at the moment. The community is expecting continued lower levels.