AUD/USD May 19- Aussie Down Against US Dollar

The Aussie traded lower Wednesday against the US Dollar.  The Aussie was trading at 1.0613, down 0.13% 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 in a loose sideways range for the first half of the session, rising to its high for the day late in the session and consolidating to its current level by the end of the session.
• Current range: 1.0570 – 1.0665
• Further levels: Below: 1.0592, 1.0599, 1.0610 Above: 1.0628, 1.0635, 1.0646
• AUD / USD likely to find support at 1.0506, and resistance at a high of 1.0706.

AUD/USD Fundamentals

• 02:00   Australia         MI Inflation Expectations         Prev. 3.5%    
• 03:00   New Zealand         Annual Budget Release    
• 13:30   US         Unemployment Claims       Exp. 421K Prev. 434K    
• 15:00   US         Existing Home Sales       Exp. 5.21M Prev. 5.10M    
• 15:00   US         Philly Fed Manufacturing Index       Exp. 20.2 Prev. 18.5    
• 15:00   US         Mortgage Delinquencies         Exp. Prev. 8.22%    
• 15:00   US         CB Leading Index m/m       Exp. 0.2% Prev. 0.4%        
• 15:30   US         Natural Gas Storage       Exp. 91B Prev. 70B    
• 17:00   US         FOMC Member Dudley Speaks            
• 18:30   US         FOMC Member Evans Speaks

* All times are GMT.

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

AUD/USD Sentiment

• New Zealand reported Wednesday that PPI (producer price inflation rose ) rose more than expected in the first quarter.

Currensee Community: 50% are short, 50% are long. 299 open positions in real accounts trading this pair at the moment.  The community is neutral on expectations of future levels of the pair ahead.