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- National Australia Bank (based on the Australian)
Pair's Outlook
After the sharp decline on Tuesday, the pair has not only reversed the previous losses but also it has managed to gain. Today the pair approached the weekly and monthly R1s at 0.9379/90; however, it was not able to reach the major level at 0.94. The technical studies suggest that the Aussie is likely to climb even higher, thus we might see the currency pair approaching the previously mentioned 0.94 mark.
Traders' Sentiment
The traders' sentiment has increased to 34%; although, still a distinct majority of the SWFX traders expect the AUD/USD cross to decline. At the same time the gap between the buy (48%) and sell (52%) orders is narrowing.
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