© Dukascopy Bank SA
- HSBC (based on the Bloomberg)
Pair's Outlook
It appears that the 2012 low has freed AUD/USD from the heaviness it had the past month. After a few repeated attempts to push through 0.9577 the bears gave in, allowing a green candle to emerge. Still, we cannot talk about a complete reversal as long as the key resistance at 0.9843/25 remains intact. Before encountering it AUD/USD will have to challenge 0.9735/01 and 0.9783 as well.
Traders' Sentiment
Turns out that a substantial majority (72%) of traders were right to anticipate a rally in AUD/USD. But this is not the only Aussie cross where traders expect a recovery, being that that AUD on average is purchased in 72% of cases in all its pairs. Concerning orders, 62% of them are placed to sell the Australian Dollar.
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