The Aussie traded lower Thursday against the US Dollar following the Australian Government’s announcement of a flood relief tax. The Aussie was trading at 0.9921 down 0.30%, as of this writing. Here’s a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: AUD/USD traded lower again Thursday. Current range: 0.9876 – 0.9995 Further levels: Below: 0.9900, 0.9905, 0.9916 Above: 0.9932,0.9937, 0.9948 AUD / USD likely to find support at Friday’s low of 0.9833, and resistance at 1.0022. AUD/USD Fundamentals 11:00 – US – Treasury Sec Geithner Speaks 13:30 – US – Advance GDP q/q Exp. 3.5% 13:30 – US – Advance GDP Price Index q/q Exp. 1.7% 13:30 – US – Employment Cost Index q/q Exp. 0.5% 14:55 – US – Revised UoM Consumer Sentiment Exp. 73.1 14:55 – US – Revised UoM Inflation Expectations * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment Australian Prime Minister Julia Gillard announced today a new tax to help pay for the flood relief. The Australian Government pegged the cost of the flood recovery at $5.6B Australian Dollars and estimates the negative effect on economic growth at less 0.5%. Other Analysts estimate the cost of the recovery at closer to $20B Australian Dollars. US Initial Jobless claims were higher than expected. US Pending Home Sales for December were higher than expected, reaching 2.00%. The market had been expecting a rise of 0.8%, indicative of an improving economy. Currensee Community: 92% are short, 8% are long. 408 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. Tamar Schoppik Tamar Schoppik View All Post By Tamar Schoppik AUD/USD Daily OutlooksMinors share Read Next Forex Daily Outlook – January 28 2011 Anat Dror 12 years The Aussie traded lower Thursday against the US Dollar following the Australian Government's announcement of a flood relief tax. The Aussie was trading at 0.9921 down 0.30%, as of this writing. Here's a quick update on technicals, fundamentals and community trends. AUD/USD Technicals Previous sessions: AUD/USD traded lower again Thursday. Current range: 0.9876 - 0.9995 Further levels: Below: 0.9900, 0.9905, 0.9916 Above: 0.9932,0.9937, 0.9948 AUD / USD likely to find support at Friday's low of 0.9833, and resistance at 1.0022. AUD/USD Fundamentals 11:00 - US - Treasury Sec Geithner Speaks 13:30 - US - Advance GDP q/q Exp.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.