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.
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