AUD/USD still supported by 1.0243/24

Yet again intentions of AUD/USD to go deeper, towards the down-trend support line at 1.0127/12, have been refuted by 1.0243/24. As a result, the price has surged up to the 20-day SMA, but is likely to continue gravitating towards 1.0243/24, which is expected to give in eventually, paving the way to 1.0151, where further depreciation of the Aussie should encounter difficulties.

The stance of the SWFX traders is unchanged since yesterday, as the portion of longs is at 40%, while shorts remain in a majority, taking up 60% of the market. As for the pending orders, sell ones have improved their dominance and now constitute 64% of the total amount.