AUD/USD May 17- Aussie Up Against Lower US Dollar

The Aussie traded higher Monday against a broadly lower Greenback following renewed investor confidence and a stronger Euro.  The Aussie was trading at 1.0601, up 0.26% at the time of this writing.

Here’s a quick update on technicals, fundamentals and community trends.

AUD/USD Technicals

• Previous sessions: The Aussie throughout the session, reaching its peak early in the afternoon, gradually consolidating throughout the rest of the session to its current level.
• Current range: 1.0514 – 1.0889
• Further levels: Below: 1.0553, 1.0571, 1.0583 Above: 1.0613, 1.0631, 1.0643
• AUD / USD likely to find support at 1.0577, and resistance at a high of 1.0876.

AUD/USD Fundamentals

• 02:30   Australia         Monetary Policy Meeting Minutes
• 13:30   US         Building Permits       Exp. 0.59M Prev. 0.59M    
• 13:30   US         Housing Starts       Exp. 0.58M Prev. 0.55M    
• 14:15   US         Capacity Utilization Rate       Exp. 77.7% Prev. 77.4%    
• 14:15   US         Industrial Production m/m       Exp. 0.5% Prev. 0.8%    
• 23:45   New Zealand         PPI Input q/q       Exp. 0.6% Prev. 0.9%

* All times are GMT.

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

AUD/USD Sentiment

• Australian new motor vehicle sales fell 3.5% in April, down from a 3.4 rise in March
• Australian home loans fell 1.5% in March.
• The Federal Reserve of New York announced that its manufacturing index fell more than expected, dropping to 11.9. Analysts were expecting a drop to 19.6.

Currensee Community: 50% are short, 50% are long. 320 open positions in real accounts trading this pair at the moment. The community is neutral on future levels of the pair ahead.