© Dukascopy Bank SA
- Easy Forex (based on the Australian)
Pair's Outlook
The Aussie continues its rebound from last week's 200-pip slump; although, the pair managed to appreciate just slightly today. It more looks like a consolidation around the 0.87 level before any other movement. To our mind, if the AUD/USD cross does not fail at the current levels then a test of the weekly R1 and monthly PP at 0.8757/85 is. However, there still is a pressure to the downside from the pair's bears.
Traders' Sentiment
The sentiment towards AUD/USD remained unchanged, and a majority of the market participants are still expecting the Australian currency to outperform, namely 75% of them. In the meantime, the share of sell orders rose from 54% up to 55%.
© Dukascopy Bank SA