© Dukascopy Bank SA
"The bounce in the Aussie is partly due to domestic factors, but also the environment for carry trades has improved in the last few weeks."
- Standard Chartered (based on CNBC)
Pair's Outlook
AUD/USD is still trading around 0.9250 as it has not moved neither higher, neither lower. We expect it to appreciate closer to 0.93 as it is well supported with weekly PP at 0.9200. Even though the pair has lost some of its bullish strength we do not think that it is set for a decline in the near term. However, if we are looking at longer time frame then we do not see the pair advancing.
Traders' Sentiment
The bullish sentiment has fallen even lower and only 26% of the traders expect the Aussie to advance. Concerning the orders placed 100 pips from the spot, there are now slightly less commands to sell 47% compares to yesterday's 31%.
© Dukascopy Bank SA