© Dukascopy Bank SA
- Bank of Nova Scotia (based on Bloomberg)
Pair's Outlook
AUD/USD remained relatively stable around 0.9250; despite its calmness the pair touched the Bollinger Bands and weekly S1 at 0.9229/23. We expect the pair to break this level and to depreciate towards the weekly S2, 55 and 200-day SMAs and monthly PP at 0.9178/51. This level should be much harder to breach, because of its significance. However, the pair's bulls should pay close attention to movements towards the weekly S1 from which the Aussie could bounce towards the weekly PP.
Traders' Sentiment
At the moment of writing 66% of the SWFX market participants are expecting the Australian currency to lose value against the greenback.
© Dukascopy Bank SA