AUD/USD Mar.15-Aussie Slides against US Dollar on Japanese Disaster

The Australian Dollar traded lower Monday against the US dollar following mounting fears over the impact the devastating Japanese earthquake will have on the Japanese and global economy.

The Aussie was trading at 1.0108, down 0.0417% 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 sideways throughout much of the day, briefly dropping to a low of 1.0054 in the late afternoon and then rebounding to its current levels.
• Further levels: Below: 1.0052, 1.0067, 1.0075 Above: 1.0098, 1.0113, 1.0121
• AUD / USD likely to find support at today’s low of 0.9970, and resistance at 1.0159.

AUD/USD Fundamentals

• 8:30   USD         Empire State Manufacturing Index       Exp. 16.2 Vs.15.4    
• 8:30   USD         Import Prices m/m       Exp.0.9% Vs.1.5%    
• 9:00   USD         TIC Long-Term Purchases       Exp.59.3B Vs.65.9B    
• 10:00     USD         NAHB Housing Market Index       Exp.17 16    
• 14:15   USD         FOMC Statement            
• 14:15   USD         Federal Funds Rate       Exp.<0.25% Vs.<0.25%    
• 19:30   Australia MI Leading Index m/m         0.8%      
• 20:30   Australia Housing Starts q/q       Exp.-1.1% Vs.-13.2% * All times are GMT.

For the major events due later in the week, see the  AUD/USD forecast.

AUD/USD Sentiment

• Concerns grow over the status of the Nuclear Power Plants in Japan. Japanese authorities have indicated that there is a real danger of a “Meltdown” at some of the plants. Investors are worried about the negative impact the devastating Japanese earthquake will have on the global economy.

Currensee Community: 91% are short, 9% are long. 417 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.