AUD/USD May 31- Aussie Down Against US Dollar on

The Aussie traded lower Monday against the US Dollar on thin holiday trading following investor doubt on a resolution to Greece’s looming debt crisis.  The Aussie was trading at 1.0681, down 0.23% 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 mostly sideways early in the session, climbing slightly higher to its high f the day late in the morning and then progressively falling throughout the remainder of the session to its current level.
• Current range: 1.0676 – 1.0725
• Further levels: Below: 1.0025, 1.0045, 1.0145 Above: 1.0785 1.0795, 1.0825
• AUD / USD likely to find support at 1.0441, and resistance at a high of 1.0656.

AUD/USD Fundamentals

• 02:00   New Zealand         NBNZ Business Confidence         Prev. 14.2    
• 02:30   Australia         Building Approvals m/m       Exp. -1.7% Prev. 9.1%    
• 02:30   Australia         Current Account       Exp. -10.1B -7.3B    
• 2:30   Australia         Private Sector Credit m/m       Exp. 0.5% Prev. 0.6%
• 14:00   US         S&P/CS Composite-20 HPI y/y       Exp. -3.5% Prev. -3.3%    
• 14:45   US         Chicago PMI       Exp. 64.2 Prev. 67.6    
• 15:00   US         CB Consumer Confidence       Exp. 66.2 Prev. 65.4

* All times are GMT.

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

AUD/USD Sentiment

• New Zealand’s trade surplus grew twice more than expected for the month of April.
• Australia is expecting a 1.0% decline in GDP for the first quarter as a result of the natural disasters that hit Australia during the first quarter.

Currensee Community: 51% are short, 49% are long. 287 open positions in real accounts trading this pair at the moment.  The community is slightly bearish on expectations of future levels of the pair ahead.