© Dukascopy Bank SA
- Reserve Bank of Australia (based on The Wall Street Journal)
Pair's Outlook
The Aussie is under bearish pressure since 10th of April, since the price decreased from the monthly R1 at 1.0567 and almost reached the monthly and weekly S1 at 1.0187. After such a steep and rapid depreciation, as AUD/USD pair went through the major SMAs without any substantial efforts and continued its trip continuously attacking the lower Bollinger band, the price is close to an oversold zone, as the RSI has a value of 33 in a daily graph and 41 in a H4 timeframe.
Traders' Sentiment
Bears are in the lead of an open positions market, but their share decreased substantially indicating a 5% slide to 68%. Pending orders market is bullish with 59% of buy orders.
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