The Australian Dollar was slightly higher Thursday against the US dollar which was broadly lower against other currencies as investors shunned risk on fears of a Japanese Nuclear catastrophe.
The Aussie was trading at 0.9808, up 0.22% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie dipped to 0.9810 in the early afternoon and then rising to 0.9870 in the mid-afternoon. The Aussie then dropped gradually throughout the rest of the afternoon to its current level, still slightly up against the US Dollar as of this writing.
- Current range: 0.9762- 0.9868
- Further levels: Below: 0.9770, 0.9782, 0.9794 Above: 0.9818, 0.9830, 0.9842
- AUD / USD likely to find support at Wednesday’s low of 0.9708, and resistance at 1.0152.
AUD/USD Fundamentals
- No major US or Australian economic events are scheduled for this Friday
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- Investors are seeking the safety of the US Dollar and trying to avoid risk.
- Japan is beginning to assess the real level of damage and devastation caused by the massive earthquake. Investors are worried about the negative impact the earthquake will have on the global economy in general and the Japanese economy in particular.
Currensee Community: 86% are short, 14% are long. 406 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
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