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- IG Ltd. (based on Bloomberg)
Pair's Outlook
The pair is struggling to trade above the 20-day SMA and weekly PP at 0.9398/99 that it breached a day earlier. The technical indicators suggest that most likely we will continue to see sideways movement from this currency pair. If the Aussie attacks and breaks the monthly PP at 0.9369 then the pair might trade around the 55-day SMA at 0.9349. However, if AUD/USD continues to trade around the 20-day SMA, then we might expect a further appreciation towards the weekly R1 at 0.9467.
Traders' Sentiment
The bullish sentiment towards the pair remains almost the same as last time of writing at 54%. In the meantime, the share of sell orders grew from 59% up to 64%.
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