AUD/USD June 07- Aussie Lower Against US Dollar

The Aussie traded slightly  lower Monday against the US Dollar. The Aussie was trading at 1.0695, down 0.20% at the time of this writing.

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

AUD/USD Technicals

• Previous sessions: The Aussie traded mostly lower throughout the session, gradually falling to its current level.
• Current range: 1.0693- 1.0768
• Further levels: Below: 1.0677, 1.0689, 1.0699 Above: 1.0721 1.0733, 1.0743
• AUD / USD likely to find support at 1.0588, and resistance at a high of 1.0775.

AUD/USD Fundamentals

• 00:30   Australia         AIG Construction Index         Prev. 37.9
• 04:30   Australia         Cash Rate       Exp. 4.75% Prev. 4.75%
• 04:30   Australia         RBA Rate Statement
• 14:00   US         IBD/TIPP Economic Optimism       Exp. 42.1 Prev. 42.8
• 19:00   US         Consumer Credit m/m       Exp. 5.2B Prev. 6.0B
• 19:45   US         Fed Chairman Bernanke Speaks

*All times are GMT.

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

AUD/USD Sentiment

• The market is concerned that the EU bailout package for Greece will not be enough to save the country from having to restructure its sovereign debt.
• US Fed Chairman Bernanke will be speaking today, and is expected to address the status of the US economic recovery.

Currensee Community: 0% are short, 0% are long. No 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.