© Dukascopy Bank SA
- JPMorgan (based on Bloomberg)
Pair's Outlook
This week the AUD/USD currency cross has traded in very narrow range compared to the last week's fluctuation. Today the pair slipped below the psychological level at 0.90; however, later it rebounded and was trading near the yesterday's close at 0.9034. Even though the technical studies does not give any clear signals we think that a decline below the 0.90 is unlikely for the time being. The pair has already showed that it is capable of recovering from dips below the level.
Traders' Sentiment
The previously mentioned rebounds from the dips below the 0.90 level has convinced traders that the pair has reached the bottom for now, with 66% of them being bullish.
© Dukascopy Bank SA