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.
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