The Aussie got off to a good start this week on the back of a weaker US Dollar due to a rising Euro and continuing last week’s upwards closing trend. The Aussie is trading at 0.9991 up just 0.94%, as of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: AUD/USD traded higher Monday on the back of a weaker US Dollar against the Euro. The Aussie uptrend from the close of last week is continuing but investors are bearish in the intermediate and long term on the Aussie.
- Current range: 0.9867 – 1.0023
- Further levels: Below: 0.9883, 0.9988, 0.9992 Above: 1.0001,1.0006, 1.001
- AUD / USD likely to find support at Friday’s low of 0.9830, and resistance at 1.0078.
- 00:30 – Australia – CPI q/q exp. 0.7%
- 00:30 – Australia – Trimmed mean CPI q/q exp. 0.8%
- Australia – Bank Holiday All Day
- 14:00 – US – S&P/CS Composite-20 HPI y/y exp. -1.4%
- 15:00 – US – CB Consumer Confidence exp. 54.4
- 15:00 – US – HPI (House Price Index) m/m exp. -0.1
- 15:00 – US – Richmond Manufacturing Index exp.23 (improvement)
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- Australian PPI data shows smallest gain in a year due to lower cost of imports (in turn due to a stronger Australian Dollar).
- Investors are still worried about the negative impact of the Queensland flooding on growth, pointing to the recent PPI data that showed the smallest gain in a year.
Currensee Community: 96% are short, 4% are long. 403 open positions in real accounts trading this pair at the moment. The community is Bearish on the Australian Dollar, expecting lower levels of the pair ahead.Get the 5 most predictable currency pairs