The Aussie traded higher Monday, continuing its rally against the Greenback for the second day in a row on expectations that the RBA will raise interest rates and helped by a stronger Euro. The Aussie was trading at 1.0727, 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 climbed slightly in the early part of the session, after which it began a gradual decline into the early afternoon, and then falling more sharply dropping to its daily low of 1.0713 before consolidating to its current level. Current range: 1.0698 – 1.0787 Further levels: Below: 1.0683, 1.0696, 1.0712 Above: 1.0741, 1.0754, 1.0770 AUD / USD likely to find support at 1.0577, and resistance at Wednesday’s high of 1.0876. AUD/USD Fundamentals 02:30 Australia Trade Balance Exp. 0.49B Prev. -0.21B 10:30 Australia Annual Budget Release 13:30 US Import Prices m/m Exp. 1.8% Prev. 2.7% 14:30 US FOMC Member Duke Speaks 15:00 US IBD/TIPP Economic Optimism Exp. 41.5 Prev. 40.8 15:00 US Wholesale Inventories m/m Exp. 1.0% Prev. 1.0% 22:00 New Zealand RBNZ Financial Stability Report * All times are GMT. For the major events due later in the week, see the AUD/USD forecast. AUD/USD Sentiment The RBA announced last week that it may need to increase interest rates in the future to maintain its inflationary targets. The Bank of Japan reported today that the Japanese economy is under downward pressure following the recent natural disasters to shake the country. Investor appetite for risk increased Monday following a positive US report last Friday that private sector payrolls increased the most in the last five years with figures for April at 244,000, higher than the expected 185,000. Currensee Community: 52% are short, 48% are long. 261 open positions in real accounts trading this pair at the moment. A slight majority of the community is expecting lower levels of the pair ahead. Tamar Schoppik Tamar Schoppik View All Post By Tamar Schoppik AUD/USD Daily Outlooks share Read Next Forex Daily Outlook – May 10 2011 Anat Dror 12 years The Aussie traded higher Monday, continuing its rally against the Greenback for the second day in a row on expectations that the RBA will raise interest rates and helped by a stronger Euro. The Aussie was trading at 1.0727, 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 climbed slightly in the early part of the session, after which it began a gradual decline into the early afternoon, and then falling more sharply dropping to its daily low of 1.0713 before consolidating to its current… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
