© Dukascopy Bank SA
- FXCM market analyst (based on the Australian)
Pair's Outlook
Through last seven trading days pair's value changed just slightly; moreover, it has been trading between the weekly PP and weekly R1 (0.9335 and 0.9417). It looks like market participants are waiting for something significant to happen. The short term technicals suggest that this sideways movement will continue; nonetheless, if pair's weekly and monthly R1 at 0.9417/27 is broken then bulls might push the Aussie even higher.
Traders' Sentiment
The gap between the amounts of long and short positions open on AUD/USD has narrowed since the previous report—43% and 57% accordingly. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—68%.
© Dukascopy Bank SA