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- Dun and Bradstreet (based on News.com.au)
Pair's Outlook
Monday session started by moving the AUD/USD pair higher from the 0.8069 level, which is the 2010 year low. However, the support was not sufficient enough to help the Aussie and the Dollar strength pressured the pair to meet the Bollinger band at 0.8034. Yet, the current trades are happening in a tight range between the 100% Fibonacci at 0.8087 and the same 2010 low. If a surge higher follows, the first resistance level will be found at weekly PP at 0.8126. In case of a step lower, the 0.80 level will be hard to break.
Traders' Sentiment
Traders continue to hold their longs in 71% of all the cases. However, both the 50– and 100– pip pending orders decreased the amount with 32% and 21%, respectively.
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