The Aussie continued its down against the Greenback Wednesday following continued fears of the escalating situation of the stricken Japanese Nuclear Reactors. The Aussie was trading at 0.9822, down 0.89% as of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie traded gradually lower through the day falling to a low of 0.9778 late in the session and then consolidating to the current levels.
- Current range: 0.9762- 0.9963
- Further levels: Below: 0.9704, 0.9733, 0.9784 Above: 0.9864, 0.9893, 0.9944
- AUD / USD likely to find support at today’s low of 0.9762, and resistance at 1.0159.
- 08:30 US Core CPI m/m Exp. 0.1% Vs. 0.2%
- 08:30 US Unemployment Claims Exp. 388K Vs. 397K
- 08:30 US CPI m/m Exp. 0.5% Vs. 0.4%
- 09:15 US Capacity Utilization Rate Exp. 76.6% Vs. 76.1%
- 09:15 US Industrial Production m/m Exp. 0.7% Vs. -0.1%
- 10:00 US Philly Fed Manufacturing Index Exp. 29.9 Vs. 35.9
- 10:00 US CB Leading Index m/m Exp. 0.9% Vs. 0.1%
- 10:30 US Natural Gas Storage Exp. -41B Vs. -71B
*All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- The continued escalating situation regarding the status of the Japanese nuclear reactors is causing investors to seek the relative safety of the US Dollar. Japanese reports are indicating that the situation is not under control and could spiral into a nuclear disaster.
- Recent US economic data reports (PPI) show that the findings are in line with expectations.
- On the other hand US February housing starts dropped to their lowest level in 27 years.
Currensee Community: 85% are short, 15% are long. 336 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.