AUD/USD Jan.27-Aussie Slightly Down Against US Dollar

The Aussie traded slightly lower Wednesday against the Greenback ahead of the US Federal Reserve’s stance on economic growth. The Aussie is trading at 0.9961 down 0.09%, as of this writing.

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

AUD/USD Technicals

• Previous sessions: AUD/USD traded slightly lower Wednesday.
• Current range: 0.9930 – 0.9999
• Further levels: Below: 0.9938, 0.9944, 0.9949 Above: 0.9960,0.9966, 0.9971
• AUD / USD likely to find support at Friday’s low of 0.9833, and resistance at 1.0022.

AUD/USD Fundamentals

• 13:30 – US – Core Durable Goods Orders m/m exp. 0.9%
• 13:30 – US – Durable Goods Orders m/m exp 1.6%
• 13:30 – US – Unemployment Claims exp 407k
• 15:00 – US – Pending Home Sales m/m exp. 0.9%
• 15:30 – US – Natural Gas Storage exp -121B

* All times are GMT.

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

AUD/USD Sentiment

• The Australian Reserve Bank will leave its current fiscal policies unchanged due to the failure of inflation to meet its expected levels.
• The US Federal Reserve is expected to leave current interest rate levels unchanged.
• US New Home Sales in December rose higher than expected reaching their highest levels in eight months.

Currensee Community: 93% are short, 7% are long. 410 open positions in real accounts trading this pair at the moment. The community sees the Australian Dollar as currently overvalued, expecting lower levels of the pair ahead.