© Dukascopy Bank SA
- RBC (based on CNBC)
Pair's Outlook
AUD/USD is adding to losses, breaching 1.0417 and then shortly challenging support area at 1.0404/1.0387, which is formed by the 100 and 200-day SMAs and the monthly R1. At the moment this zone is expected to hold and thereby restore bullish momentum that has been lost around 1.0491, the weekly R1. Daily technicals are adding to positive signs, though the longer term studies are warning us about substantial risks to the up-trend.
Traders' Sentiment
Additional weakness of AUD/USD has spurred even more investors to short-sell the Australian Dollar, bringing the percentage of bears up to 74% from 70% a day before. Meanwhile, the gap between the amounts of buy and sell orders has narrowed from 38% to 30% since the last report.
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