The Aussie traded lower Tuesday against the US Dollar following a US report on Chicago PMI. The data showed a greater than expected fall. The Aussie was trading at 1.0658, down 0.31% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie fell throughout the first half of the session in to the early afternoon reaching its low f the day. The Aussie then rallied twice during the afternoon, hitting its high of the day before consolidagin to its current level.
- Current range: 1.0676 – 1.0725
- Further levels: Below: 1.0641, 1.0647, 1.0655 Above: 1.0669 1.0675, 1.0683
- AUD / USD likely to find support at 1.0511, and resistance at a high of 1.0757.
- 00:30 Australia AIG Manufacturing Index Prev. 48.4
- 02:30 Australia GDP q/q Exp. -0.9% Prev. 0.7%
- 07:30 Australia Commodity Prices y/y Prev. 32.3%
- 12:30 US Challenger Job Cuts y/y Prev. -4.8%
- 13:15 US ADP Non-Farm Employment Change Exp. 177K Prev. 179K
- 15:00 US ISM Manufacturing PMI Exp. 58.4 Prev. 60.4
- 15:00 US Treasury Sec Geithner Speaks
- 15:00 US Construction Spending m/m Exp. 0.4% Prev. 1.4%
- 15:00 US ISM Manufacturing Prices Exp. 81.9 Prev. 85.5
- All Day US Total Vehicle Sales Exp. 12.9M Prev. 13.2M
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- The US reported data today on the Chicago PMI for April. The data showed a greater than expected fall to 56.6 (adjusted) from 67.6. The street was expecteting 62.5.
- US Home prices fell more than expected for the month of March, continuing a down trend. In addition, US consumer confidence has declined unexpectedly as well.
- Business confidence in New Zealand surges to a new annual high in April. This raises the possibility that the Central Bank will raise interest rates this year.
Currensee Community: 50% are short, 50% are long. 277 open positions in real accounts trading this pair at the moment. The community is currently neutral on expectations of future levels of the pair ahead.Get the 5 most predictable currency pairs