© Dukascopy Bank SA
-CMC Markets (based on the Australian)
Pair's Outlook
Pair's trading volume still is rather low and therefore we have not seen any major moves for awhile. The pair is trading just above the weekly PP at 0.9335 and we expect that to continue for now. However, if the pair slips beneath the monthly PP and 20-day SMA then it could drop lower towards the weekly S1 and 55-day SMA at 0.9275/65. Also the weekly technical indicators are mixed; therefore, sideways movement could be expect.
Traders' Sentiment
The sentiment towards AUD/USD slightly improved, but a majority of the market participants are still expecting the Australian currency to underperform, namely 59% of them. In the meantime, the share of buy orders dropped from 67% down to 65%.
© Dukascopy Bank SA