The Aussie traded higher against the US Dollar Thursday following a less than expected decline in the US trade balance. The Aussie was trading at 1.0646, up 0.21% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie traded higher throughout today’s session, generally rising throughout the day to hit its current level.
- Current range: 1.0564– 1.0663
- Further levels: Below: 1.0616, 1.0621, 1.0627 Above: 1.0638, 1.0643, 1.0649
- AUD / USD likely to find support at 1.0564, and resistance at a high of 1.0768.
- 13:30 US Import Prices m/m Exp. -0.6% Prev. 2.2%
- 19:00 US Federal Budget Balance Exp. -157.6B Prev. -40.5B
*All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- The US reported a less than expected decrease in the May trade deficit. The data showed figures of a seasonally adjusted -43.7B in May from -46.8B in April.
- Japan’s economy contracted 0.95 during the first quarter as a result of the earthquake that rocked the country.
- The Reserve Bank of New Zealand left its cash interest rate consistent at 2.5% although indicated that a hike is likely in the future to maintain inflationary targets.
- Australia reported a slowdown in employment growth and a decrease in levels of fulltime employment.
Currensee Community: 52% are short, 48% are long. 304 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