AUD/USD erases yesterday's gains

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Once those comments came in, really, it put a floor under the S & P and the Aussie dollar just traded alongside the sentiment."
- ANZ (based on the Australian)


Pair's Outlook
The Australian Dollar has little changed through the last two trading days, after the AUD/USD cross gained on Wednesday. The technical indicators have become more bearish than they were yesterday, as in all time frames they point to the down-side. In case the currency pair continues to trade above the current support level (weekly PP; 20-day SMA) around 0.8750 mark then we are likely to see a repeated attack towards the 0.88 level.

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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