© Dukascopy Bank SA
- OzForex (based on the Australian)
Pair's Outlook
AUD/USD hovers in more or less the same trading range where it did in the last week, namely around the 0.8750 level. The pair has been on a sideways trend already since the end of September, when it reached the lowest level this year and ended its decline. The Aussie cannot find a bullish impetus to advance further, even though it has recovered from the down-trend. The next target is the major level at 0.88, which could possibly become a support level.
Traders' Sentiment
An overwhelming majority (71%) of the SWFX market participants expect that the Aussie will outperform the Greenback. The distribution between the buy and sell orders is much more stable—55% and 45% respectively.
© Dukascopy Bank SA