The Aussie traded lower Tuesday against the Greenback on the back of new US data on consumer confidence and home prices. The Aussie is trading at 0.9925 down 0.63%, as of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
AUD/USD Technicals
- Previous sessions: AUD/USD traded lower Tuesday on the back of weaker home prices data.
- Current range: 0.9890 – 0.9994
- Further levels: Below: 0.9907, 0.9915, 0.9932 Above: 0.9957,0.9965, 0.9982
- AUD / USD likely to find support at Friday’s low of 0.9833, and resistance at 1.0022.
AUD/USD Fundamentals
- 02:30 – US – President Obama to deliver State of the Union Address
- 15:00 – US – New Home Sales exp. 302k
- 15:30 – US – Crude Oil Inventories exp. 0.9m
- 19:15 – US – FOMC Statement
- 19:15 – US – Federal Funds Rate
- 20:00 – New Zealand – Official Cash Rate exp. 3.00% unchanged
- 20:00 – New Zealand RBNZ Rate Statement
- 23:30 – Australia – MI Leading Index m/m
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- Australian CPI figures were lower than expected.
- The Australian annualized inflation rate dropped to 2.7%, the lowest level in a year and moving upwards at the lowest rate in two years.
- Investors are still worried about the negative impact of the Queensland flooding on growth, pointing to the recent PPI data that showed the smallest gain in a year.
- US Consumer confidence data showed higher than expected levels but at the same time disappointing data on Home Prices.
Currensee Community: 93% are short, 7% are long. 413open positions in real accounts trading this pair at the moment. The community is Bearish on the Australian Dollar, expecting lower levels of the pair ahead.
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