AUD/USD June 10- Aussie Higher Against US Dollar on

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.

AUD/USD Technicals

• 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.

AUD/USD Fundamentals

• 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.

AUD/USD Sentiment

• 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.