© Dukascopy Bank SA
- Westpac (based on the Australian)
Pair's Outlook
By approaching the weekly S1 and 100-day SMA at 0.9330/28 the currency pair prolonged its yesterday's decline; although, it managed to inch up closer to the monthly PP at 0.9369. AUD/USD have to breach the weekly S1 to remain on the down-trend. To our mind it is likely to happen; although, around current trading level there are lots of important support levels. The technical studies do not offer a clear outlook.
Traders' Sentiment
The are more and more market participants that expect the Aussie to outperform the U.S. counterpart, namely 62%. Concerning the orders placed 100 pips from the spot, there are now slighlty more commands to buy—40% after yesterday's 35%.
© Dukascopy Bank SA