AUD/USD May 26- Aussie Down Against US Dollar on

The Aussie traded lower Wednesday against the US Dollar following lower than expected US data on orders of Core Durable Goods during April.  The Aussie was trading at 1.0525, down 0.31% 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 largely sideways in the first half of the session, briefly dropping late in the morning to its low of the day. The Aussie then reversed in the second half of the session, rising to its high of the day early in the afternoon and then consolidating slightly to its current level.
• Current range: 1.0441 – 1.0711
• Further levels: Below: 1.0492, 1.0500, 1.0513 Above: 1.0534, 1.0542, 1.0555
• AUD / USD likely to find support at 1.0479, and resistance at a high of 1.0711.

AUD/USD Fundamentals

• 0:15   Australia         RBA Deputy Gov Battellino Speaks                
• 2:30   Australia         Private Capital Expenditure q/q       Exp. 2.8% Prev. 1.3%
• 13:30   US         Prelim GDP q/q       Exp. 2.2% Prev. 1.8%    
• 13:30   US         Unemployment Claims       Exp. 403K Prev. 409K    
• 13:30   US         Prelim GDP Price Index q/q       Exp. 1.9% Prev. 1.9%    
• 15:30   US         Natural Gas Storage       Exp. 93B Prev. 92B

* All times are GMT.

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

AUD/USD Sentiment

• The US reported today lower than expected orders of Core Durable Goods during April. The market was expecting a 0.6% rise. The data showed an unexpected drop of -1.5%.
• Greece may consider dropping the Euro if the European nations cannot deal with Greece’s debt crisis.

Currensee Community: 50% are short, 50% are long. 251 open positions in real accounts trading this pair at the moment.  The community is neutral on expectations of future levels of the pair ahead.