The Australian Dollar was higher Thursday against the US dollar, after the Greenback was broadly lower against other currencies following a poor durable goods orders report.
The Aussie was trading at 1.0219, up 0.87% at the time of this writing.
Where is the Aussie headed in the short-term?
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: The Aussie traded slightly up and sideways in today’s session, rising sharply in the midsession, reaching 1.0227 before consolidating to its current level. Technical indicators seem to be currently pointing to an unclear short-term future.
- Current range: 1.0113- 1.0229
- Further levels: Below: 1.0189, 1.096, 1.0210 Above: 1.0231, 1.0238, 1.0252
- AUD / USD likely to find support at Wednesday’s low of 0.9942, and resistance at today’s high of 1.0222.
AUD/USD Fundamentals
- 05:00 US FOMC Member Kocherlakota Speaks
- 07:30 US FOMC Member Fisher Speaks
- 08:30 US Final GDP q/q 3.0% 2.8%
- 08:30 US Final GDP Price Index q/q 0.4% 0.4%
- 09:55 US Revised UoM Consumer Sentiment 68.1 68.2
- 09:55 US Revised UoM Inflation Expectations 4.6%
- 12:15 US FOMC Member Plosser Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The US Dollar traded lower today against other major currencies after it released a report today indicating tht durable goods orders or the month of February was significantly lower, coming in at a 0.9% gain as opposed to the expected 1.8%.
- New Zealand reported today that its economy expanded more than expected in the fourth quarter of 2010.
- Food products with radiation contamination in Japan leaves investors concerned over the nuclear and earthquake crisis. Concern over the economic impact on the Japanese economy and the global economy at large remains high.
Currensee Community:93% are short, 7% are long. 394 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
Share
