© Dukascopy Bank SA
- UOB Group (based on FXStreet)
Pair's Outlook
The Aussie experienced another small setback on Wednesday, but with the current eight-week bullish trend remaining intact. Consequently, the Australian Dollar is expected to appreciate again today, but some difficulties may arise, as the Antipodean currency faces a tough resistance area around 0.7675, formed by the Bollinger band, the monthly R1 and the weekly R2. Moreover, for the past two days the AUD/USD currency pair was unable to close above the weekly R1, which is the closest resistance, located at 0.7628. Despite these facts, technical studies imply that the bullish bias is to be dominant during the day.
Traders' Sentiment
Today 70% of all pending orders are to sell the Aussie (previously 74%). The numbers of sell orders increased from 52 to 57%.
© Dukascopy Bank SA