AUD/USD gets a foothold above 1.0462/39

The trading range of the currency pair has decreased quite a bit, as bears are unable to overthrow bulls at 1.0462/39, while the latter ones are wary of entering the market at higher levels, bearing in mind proximity of a declining resistance line. Still, weekly and monthly technical indicators are bullish, meaning that AUD/USD not reaching the lower edge of the pattern could be a sign of a soon breakout of 1.0534/60.

Fundamentally, there is no change in SWFX traders' sentiment towards AUD/USD, since a notable majority (70%) of market participants foresee a weaker Australian Dollar relatively to the greenback. Orders, on the other hand, are silent, as 48% of them are buy and the rest (52%) - sell.