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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.