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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