AUD/USD: Eyes on consumer confidence as potential impact

FXStreet (Guatemala) - AUD/USD is unchanged while we are still awaiting for Lowe's comments from his appointment at the Future of International Governance and the G20 conference in Sydney.

It appears that we are now moving on from this "event" as a no show and focus our attentions else where on the forthcoming key events for the rest of the day. For the Aussie, we first have the Australian May Westpac-MI consumer sentiment survey. This is of key interest given the recent RBA cut and improvements in jobs data and firmer house prices across the nation.

The near term uptrend in the Aussie came from 0.7945, and below here we are in bearish territory. A close below would confirm that the upside pressure has been alleviated. We are at critical levels just ahead of the consumer sentiment survey , and the outcome could be a decisive factor ahead of further data impacts later this week from the US, crucially with the FOMC minutes coming up. To the downside, the 0.7790/.7785 zone is compelling while the upside has 0.8027 as a key resistance.