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- ASB Bank (based on Bloomberg)
Pair's Outlook
AUD/USD, despite several attempts, still remains unable to breach the resistance represented by the 100-day SMA. Now 0.90 is also reinforced by the monthly R1, which complicates appreciation of the Australian Dollar even further. Moreover, a majority of the technical studies on weekly and monthly time-frames imply that the price is more likely to go down than to recover.
Traders' Sentiment
Right now 63% of open positions are long, meaning that most of the traders support further recovery of the Aussie, regardless of the difficulties it is currently facing. Concerning the orders placed 50 pips up and down from the spot, 62.5% of them are set to sell AUD against USD.
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