"Undetectable" means indistinguishable from zero with the sensitivity of test they use. The catch is that different hospitals seem to use different tests, or at least report them differently.
My hospital uses 0.05 as their limit of detection; anything below that is recorded as <0.05 which is interpreted as zero. So in our part of the world your PSA would be undetectable.
Hope that is at least slightly helpful. The level is too low to be a concern of itself, but if it showed signs of rising then it might be. I think most places use a value of 0.20 as the level when further treatment is considered.