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The Aussie traded lower Tuesday against the US Dollar after investors sought safer investments on fears that Al Qaida will try to revenge the death of its leader Osama Bin Laden. The Aussie was trading at 1.0856, down 0.82% 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 downwards early in the session, reversing towards the late morning and climbing to a high of 1.0932 and then falling throughout the rest of the session to its current level.
  • Current range: 1.0847 – 1.0950
  • Further levels: Below: 1.0827, 1.0846, 1.0861 Above: 1.0895, 1.0914, 1.0929
  • AUD / USD likely to find support at 1.0846, and resistance at today’s high of 1.1013.

AUD/USD Fundamentals

  • 00:30   Australia       AIG Services Index         Prev. 46.5
  • Tentative   Australia      HIA New Home Sales m/m         Prev. 0.6%
  • 12:30   US         Challenger Job Cuts y/y         Prev. -38.6%    
  • 13:15   US         ADP Non-Farm Employment Change       Exp. 200K Prev. 201K    
  • 15:00   US         ISM Non-Manufacturing PMI       Exp. 57.9 Prev. 57.3    
  • 15:30   US         Crude Oil Inventories       Exp. 1.9M Prev. 6.2M    
  • 21:00   US         FOMC Member Fisher Speaks            
  • 23:45   New Zealand           Employment Change q/q       Exp. 0.6% Prev. -0.5%    
  • 23:45   New Zealand           Unemployment Rate       Exp. 6.7% Prev. 6.8%

* All times are GMT.

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

AUD/USD Sentiment

  • Investors were jittery today on fears that Al Qaida and other terrorist organizations will try to seek revenge for the death by US Special Forces of its leader Osama Bin Laden. Investors flocked to safer investments such as the US Dollar.
  • The RBA (Reserve Bank of Australia) maintained its current benchmark interest rate at 4.75%. The RBA believes that the strength of the Aussie will keep inflation in check for the duration of this year.
  • The US reported today that factory order increased more-than-expected in March.

Currensee Community: 52% are short, 48% are long. 261 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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