© Dukascopy Bank SA
- Commonwealth Bank (based on the Australian)
Pair's Outlook
After falling below the 0.93 level on Monday the Aussie has been doing much better, as the currency approached the cluster of resistances (55 and 100-day SMA, weekly R1, monthly PP), that was mentioned yesterday. The resistances ahead could indicate the real strength of the pair, taken into account their strength. In case the pair manages to break these levels then we expect AUD/USD to reach the 0.94 level.
Traders' Sentiment
The pair's sentiment is becoming stronger with every day, as of today already 66% of the market participants have long positions on AUD/USD. The distribution between the buy and sell orders is very similar—65% and 35% respectively.
© Dukascopy Bank SA