The Australian Dollar was higher Monday against the US dollar following positive news from Japan and Global action against Libya.
The Aussie was trading at 1.0055, up 0.95% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie reached a high of 1.0069 in the early afternoon and then falling to 1.0035 in the late afternoon, and then gradually consolidating to its present level. The currency has been fluctuating relatively actively during the session.
- Current range: 0.9955- 1.0070
- Further levels: Below: 1.0037, 1.0042, 1.0048 Above: 1.0059, 1.0064, 1.0070
- AUD / USD likely to find support at Wednesday’s low of 0.9708, and resistance at 1.0070.
- 07:35 US FOMC Member Fisher Speaks
- 08:30 US Treasury Sec Geithner Speaks
- 10:00 US OFHEO HPI m/m Exp. -0.2% Vs. -0.3%
- 10:00 US Richmond Manufacturing Index
- 17:45 New Zealand Current Account
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- Reports from Japan that all but one reactor are under control and that there has been progress with reactor #3 has left investors more relieved. While there is still cause for concern about a potential Nuclear disaster, for the moment it seems that such a situation has been avoided.
- Investor sentiment is higher after a UN vote sanctioning military action against Libya and actual action taken by the US, France and Britain.
Currensee Community:93% are short, 7% are long. 393 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.