AUD/USD's trading range narrows

There is virtually no volatility in AUD/USD pair, as it established a new floor at 0.8756, while leaving the ceiling at 0.8822. But taking into account that the Aussie is still trading beneath the 23.6% retracement of Sep 5-Oct 3 decline, the bias is to the downside, meaning the weekly pivot point should not be considered a reliable support. Moreover, a larger part of the technical studies also suggests the risks are skewed in favour of a dip.

Just as yesterday or five days ago three out of four SWFX market participants prefer to be long on the Australian Dollar. But there is no visible difference between the amounts of buy (49%) and sell (51%) orders.