Home AUD/USD June 03- Aussie UP Against US Dollar On
AUD/USD Daily Outlooks

AUD/USD June 03- Aussie UP Against US Dollar On

The Aussie traded higher Thursday against the US Dollar following a boosted Euro, a poorer than expected US Jobless claim report and higher than expected Australian retail sales data. This follows a string of poor US economic data. The Aussie was trading at 1.0675, up 0.57% 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 initially higher during the first half of the session, before falling slightly throughout the afternoon and dropping sharply late in the afternoon to its low of the day. Then Aussie then reversed its direction, rallying to its high of the day before consolidating to its current level.
  • Current range: 1.0588 – 1.0689
  • Further levels: Below: 1.0631, 1.0641, 1.0656 Above: 1.0681 1.0691, 1.0706
  • AUD / USD likely to find support at 1.0588, and resistance at a high of 1.0757.

AUD/USD Fundamentals

  • 00:30   Australia         AIG Services Index         Prev. 51.5
  • 13:30   US         Non-Farm Employment Change       Exp. 194K Prev. 244K
  • 13:30   US         Unemployment Rate       Exp. 9.0% Prev. 9.0%
  • 13:30   US         Average Hourly Earnings m/m       Exp. 0.2% Prev. 0.1%
  • 15:00   US         ISM Non-Manufacturing PMI       Exp. 53.7 Prev. 52.8
  • 17:30   US         FOMC Member Tarullo Speaks

* All times are GMT.

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

AUD/USD Sentiment

  • US economic data is continuing to disappoint, fueling fears of a slowdown in the US growth of the economy. The US reported a less than expected jobless claims decrease. The street was expecting a decrease to 420,000. The reported figure was 422,000.
  • Separately, US Factory orders fell more than expected in April.
  • Australia reported better than expected retail sales data for the month of April, reaching the highest level in the last 17 months.

Currensee Community: 59% are short, 41% are long. 2 open positions in real accounts trading this pair at the moment.  The community is currently neutral on expectations of future levels of the pair ahead.