© Dukascopy Bank SA
- Australian Chamber of Commerce and Industry (based on ABC News)
Pair's Outlook
The Aussie faces huge bearish sentiments in recent weeks, as the pair almost touched 0.97. AUD/USD depreciated seven straight sessions in a row and dropped even lower than the monthly S3, located at 0.9840. Technical analysis measures, especially the Relative Strength Index, suggest to buy the pair, since all values are in an oversold zone.
Traders' Sentiment
Mainly bulls populate the market, since there are 74% of long positions. Seems that traders prefer to take a risk and bet on an upward correction. Placed orders market is bearish, but only gently, since the sell orders have a 55% share.
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