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– ANZ (based on Business Recorder)
Pair's Outlook
On Thursday the Aussie erased most of this week's losses and is set for another leg down. Another decline today would make the three-year down-trend viable again, but the possible losses are likely to be limited by the cluster around 0.7590, formed by the weekly and the monthly PPs, as well as the 20 and the 55-day SMAs. Oddly enough, but technical indicators keep giving bullish signals both in the daily and the weekly timeframes, suggesting that the down-trend could soon be fully breached after all. Nevertheless, for the moment being the ceiling is the 0.7710 level, as after several attempts the AUD/USD pair was unable to climb higher for six months.
Traders' Sentiment
Bearish sentiment remains unchanged at 68%, whereas the buy and the sell order ratio is now equal to one.
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