© Dukascopy Bank SA
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
The Australian currency is still looking for a driver as the pair seems stuck above the 0.9250 mark. Possibly the strong support levels (weekly and monthly S1 at 0.9222/19) are scaring away the bearish traders. Last time when similar levels were approached was on May; however, since then for most of the time the pair traded above the major level 0.93. The monthly technical studies are pointing to the south, that could be one of the encouragements for the pair's bears.
Traders' Sentiment
AUD/USD sentiment is becoming more and more bullish, as of today 65% of the SWFX market participants expect the Australian Dollar to appreciate against the Greenback. The distribution between the buy and sell orders is—36% and 64% respectively.
© Dukascopy Bank SA