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- Western Union Business Solutions (based on the Australian)
Pair's Outlook
At the time of writing, the Aussie has managed to appreciate slightly above the 0.87 level, that has halted the currency pair's decline at least for now. Nonetheless, the majority of daily and monthly technical indicators are still pointing to the south. Possibly the fact that this year's low (0.8660) is so near the current trading level discouraged some of the bearish traders. However, if the pair will post daily gains then it will be only the sixth day out of last 22 when the pair advances.
Traders' Sentiment
The sentiment with respect to AUD/USD stays distinctly bullish—70% of all open position are long, though just yesterday they took up 66% of the market.
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