AUD/USD June 07– Aussie Lower Against US Dollar

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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.

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