The Aussie traded lower against the US Dollar Wednesday after Australia reported greater than expected new home loans data. The Aussie was trading at 1.0618, down 0.96% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie traded initially higher at the opening of the session, quickly reversing and falling to its low of the day by early afternoon. The Aussie then climbed back again by late afternoon to its opening level, and then consolidating to its current level.
- Current range: 1.0589– 1.0726
- Further levels: Below: 1.0567, 1.0592, 1.0606 Above: 1.0645 1.0670, 1.0684
- AUD / USD likely to find support at 1.0589, and resistance at a high of 1.0775.
- 02:15 New Zealand RBNZ Gov Bollard Speaks
- 02:30 Australia Employment Change Exp. 25.6K Prev. -22.1K
- 02:30 Australia Unemployment Rate Exp. 4.9% Prev. 4.9%
- 13:30 US Trade Balance Exp. -48.6B Prev. -48.2B
- 13:30 US Unemployment Claims Exp. 424K Prev. 422K
- 15:00 US Wholesale Inventories m/m Exp. 1.0% Prev. 1.1%
- 15:30 US Natural Gas Storage Exp. 77B Prev. 83B
- 16:30 US FOMC Member Yellen Speaks
- 19:00 US FOMC Member Plosser Speaks
*All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- Australia reported greater than expected new home loans for the month of May, rising to 4.8%. The community was expecting an increase to 2.3% from a previous -1.5%.
Currensee Community: 51% are short, 49% are long. 261 open positions in real accounts trading this pair at the moment. The community is marginally expecting lower levels of the pair ahead.Get the 5 most predictable currency pairs