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- IG Markets (based on the Australian)
Pair's Outlook
The Aussie has been very bearish through this week, the AUD/USD currency cross started the week more than 300 pips higher than it is trading at the moment writing. The next support level is the psychological level at 0.9000, that has not been approached since the 20th of March. Nonetheless, the technical studies are largely neutral on the pair, thus suggesting that the pair's decline is coming to an end.
Traders' Sentiment
More and more traders consider the dip in AUD/USD to be overstretched. Accordingly, the share of long positions grew from 59% up to 62%. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—71%.
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