© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
The Australian Dollar extended its decline today as it dropped below the 0.89 level; moreover, the pair has fallen below this level for the first time since March. Since the pair's bears have dragged AUD/USD also below the weekly S1 at 0.8869, then the next support level is December low at 0.8822. The technical levels remain neutral, suggesting that uncertainty about the future movements is expected.
Traders' Sentiment
The sentiment towards the pair has dropped significantly; however, still the majority (55%) of traders expect the Aussie to rebound against the U.S. Dollar. The distribution between the buy and sell orders is also quite stable—52% and 48% respectively.
© Dukascopy Bank SA