The Aussie traded slightly higher Tuesday, continuing its rally against the Greenback for the third day in a row following better than expected Australian trade surplus figures in March. The Aussie was trading at 1.0830, up 0.20% 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 between its high of 1.0818 and a low of 1.0773 since the early afternoon, dipping slightly since its previous afternoon high and climbing to its current level.
- Current range: 1.0737 – 1.0819
- Further levels: Below: 1.0764, 1.0772, 1.0785 Above: 1.0806, 1.0814, 1.0827
- AUD / USD likely to find support at 1.0538, and resistance at Today’s high of 1.0819.
AUD/USD Fundamentals
- 13:30 US Trade Balance Exp. -46.8B Prev. -45.8B
- 15:30 US Crude Oil Inventories Exp. 1.1M Prev. 3.4M
- 18:00 US FOMC Member Kocherlakota Speaks
- 19:00 US Federal Budget Balance Prev. -188.2B
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- The Aussie increased against the Greenback today following better than expected trade surplus figures for the month of March.
- Australian March exports of iron ore were up 9% in March further indicating a robust Australian economy.
Currensee Community: 51% are short, 49% are long. 256 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.
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