AUD/USD erases yesterday's gains

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The catalyst was the RBA's Guy Debelle. His comments that the market could be in for a crash while jawboning the Australian dollar lower has caused quite a stir."
- OANDA (based on the Australian)


Pair's Outlook
After failure to surpass the 0.88 level yesterday, the AUD/USD currency pair has started to fall. At the moment, the 0.87 level has halted the current decline; moreover, we anticipate that the pair will not slide considerably lower. Nonetheless, if the pair slips below the 0.87 mark then most likely we will see a new this year's low. At the same time, in our view the pair is likelier to target the 0.88 level in the short-term.

Traders' Sentiment
More than 70% of the SWFX market participants believe that the Australian Dollar is going to outperform the Japanese Yen. And this number could go up, as 59% of orders are placed to purchase the Aussie.
© Dukascopy Bank SA

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