© Dukascopy Bank SA
"The market has yet to price in the risk of higher interest rates in Australia and as that happens, the Aussie will probably be in demand."
- OzForex Ltd (based on Bloomberg)
Pair's Outlook
Through the end of the last week and through this week there has formed a sideways trend in the AUD/USD currency pair. As of now the pair is trading just below 0.93 level; however, yesterday it almost reached weekly PP at 0.92. We do not suspect it to break the major level at 0.93, on the contrary, we see it sliding lower towards 0.92 and possibly even breaking this level at some point.
Traders' Sentiment
A considerable majority of traders stay pessimistic with respect to the Aussie. Right now as many as 73% of them expect it to lose value against the U.S. Dollar. 68% of the market participants have set orders set to acquire the Dollar.
© Dukascopy Bank SA