Home AUD/USD Apr.07-Aussie Reverses Fall Against US Dollar
AUD/USD Daily Outlooks

AUD/USD Apr.07-Aussie Reverses Fall Against US Dollar

The Australian Dollar was up today against the US dollar, following a broadly lower Greenback.
The Aussie was trading at 1.0441, up 1.08% at the time of this writing.
Has the Aussie broken the fall?
Here’s a quick update on technicals, fundamentals and community trends.

AUD/USD Technicals

  • Previous sessions: The Aussie traded lightly up during the first half of the session and then rapidly climbed to its peak of 1.0450 in the middle of the session and then consolidated slightly to its current level.
  •  Current range: 1.0318 – 1.0451
  • Further levels: Below: 1.0413, 1.0418, 1.0424 Above: 1.0435, 1.0440, 1.0446
  • AUD / USD likely to find support at today’s low of 1.0289, and resistance at today’s high of 1.0450.


AUD/USD Fundamentals

  • 00:30   Australia         AIG Construction Index         Prev. 44.6    
  • 02:30   Australia         Employment Change       Exp. 22.7K Prev. -10.1K    
  • 02:30   Australia         Unemployment Rate       Exp. 5.0% Prev. 5.0%
  • 13:30   US         Unemployment Claims       Exp. 385K Prev. 388K    
  • 15:30   US         Natural Gas Storage       Exp. -51B Prev. 12B    
  • 20:00   US         Consumer Credit m/m       Exp. 4.8B Prev. 5.0B

* All times are GMT.

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

AUD/USD Sentiment

  • The US Dollar was lower against other currencies following news of an expected rate hike by the European Central Bank, and a hesitation by the Bank of Japan to do the same.
  • Analysts note that the US Federal Reserve continues to believe that the US economy is on the path to recovery. However they note that that is negative potential stemming from inflation.

Currensee Community: 82% are short, 18% are long. 304 open positions in real accounts trading this pair at the moment. The community is expecting lower levels of the pair ahead.