© Dukascopy Bank SA
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
AUD/USD continue to set new lows this year, as of today the pair even dived beneath the major level at 0.85 for a moment. Currently, the monthly S2 at 0.8517 is supporting the pair, but there is a risk of the Aussie slipping lower. The majority of the daily and monthly technical studies are neutral and that might be the term how we would describe our outlook towards the pair. We expect the pair to hover around 0.85 for the time being.
Traders' Sentiment
An overwhelming majority of the SWFX market participants consider the Aussie to be undervalued relative to the US Dollar. Right now 75% of traders are long the Aussie, while merely 25% of them believe the currency is going to fall in price even more.
© Dukascopy Bank SA