© Dukascopy Bank SA
- LTG Goldrock (based on the Australian)
Pair's Outlook
The AUD/USD cross seems to continue its journey towards the major level at 0.89, possibly the 0.90 level in the longer term. At the same time, the weekly and monthly technical studies are pointing to the downside. We expect the pair to hover above the 20-day SMA and Dec low at 0.8816/22. Now, the target remains the same—reaching the 0.89 mark by breaking March low and the weekly R2 at 0.8891/95 on its way.
Traders' Sentiment
An overwhelming majority of the SWFX traders' stay optimistic on the pair's further appreciation. At the moment, 73% of traders are long the Australian Dollar, while 27% of them believe the currency is going overvalued against the Greenback.
© Dukascopy Bank SA