© Dukascopy Bank SA
- JPMorgan Chase & Co. (based on Bloomberg)
Pair's Outlook
The Aussie has been appreciating moderately for a week now and it touched the 100-day SMA at 0.9342 today. We expect the pair to test the 100-day SMA again in the near term, possibly in the next trading session. Nevertheless, in the longer term we see the pair depreciating lower. The daily and monthly technical studies point downwards, despite that the pair is likely to be supported by the weekly PP and major level at 0.93.
Traders' Sentiment
As AUD/USD continues to climb higher, the traders are becoming less sure that the Aussie is able to appreciate higher, 51% of the traders remain bullish today. The distribution between the buy and sell orders is widening—60% and 40% respectively.
© Dukascopy Bank SA