© Dukascopy Bank SA
- BK Asset Management (based on the Australian)
Pair's Outlook
Today the Aussie recovered some of yesterday's losses and is challenging the weekly PP at 0.9380. The daily and weekly technical indicators are bullish; although, the monthly technicals are more bearish. With that in mind we might see some short term appreciation, possibly the pair might test the monthly R1 at 0.9415. However, if the pair fails to break the weekly PP then it might slide towards the weekly S1 at 0.9328.
Traders' Sentiment
The sentiment towards AUD/USD dropped to strongly bearish. At the moment only 26% of the traders expect the Aussie to outperform the greenback. Although, the distribution between the buy and sell orders is quite stable—48% and 52% respectively.
© Dukascopy Bank SA