The Aussie traded higher against the US Dollar Wednesday, following positive comments by the Reserve Bank of Australia. The Aussie was trading at 1.0004 up 0.39% 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 higher Wednesday following positive comments by the RBA.
- Current range: 0.9968 – 1.0026
- Further levels: Below: 0.9968, 0.9977, 0.9991 Above: 1.0014, 1.0023, 1.0037
- AUD / USD likely to find support at Tuesday’s low of 0.9944, and resistance at 1.0074.
AUD/USD Fundamentals
- 08:30 US Core CPI m/m Exp. 0.1%
- 08:30 US Unemployment Claims Exp. 401K
- 08:30 US CPI m/m Exp. 0.3%
- 10:00 US Fed Chairman Bernanke Testifies
- 10:00 US Philly Fed Manufacturing Index Exp. 20.8
- 10:00 US Mortgage Delinquencies Exp. 9.13%
- 10:00 US CB Leading Index m/m Exp. 0.3%
- 10:30 US Natural Gas Storage Exp. -233B
- 12:20 US FOMC Member Evans Speaks
- 13:10 US FOMC Member Fisher Speaks
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
AUD/USD Sentiment
- US Consumer Prices are expected to rise 1.6% for the month of January, above expectations, and marking the 7th consecutive rise in a row. While this is positive news, it is worth noting that this is still below the Fed’s growth expectation of 2%. If the report is in fact in line with expectations, we can expect a rise in the demand for the Greenback. However if the report turns out to be worse than expected, we can expect most major currencies to rise against the USD.
- The Bank of England expects economic growth to be slower.
Currensee Community: 92% are short,8% are long. 430 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.
Share
