Note: This section contains information in English only."Our conclusion is that a lot has to go wrong in Australia, alongside unrelenting US dollar strength, if the Aussie-US dollar exchange rate is to come close to re-running its late 1990s-2001 experience."
– Ray Attrill, co-head of NAB global (The Sydney Morning Herald)
Pair's Outlook
[ANNOUNCE]Due to rising oil prices the Aussie received a boost on Thursday, adding 45 pips against the American Dollar.[/ANNOUNCE] As a result, the immediate resistance area was pierced, allowing the pair to stabilise above the 0.72 major level. However, another positive outcome is doubtful, as technical indicators are giving bearish signals in all timeframes. Consequently, the commodity currency could erase some of yesterday's gains, thus, falling back under the 0.72 mark. On the other hand, in case demand, represented by the weekly PP and the monthly S1, turns out to be sufficient—the AUD/USD pair is unlikely to reach the nearest resistance, namely the weekly R1 at 0.7275.
Traders' Sentiment
For the third consecutive day 57% of traders hold short positions. At the same time, 78% of all pending orders are to sell the Aussie.
Fri, 30 Dec 2016 15:13:42 GMT
Source: Dukascopy Bank SA
– Ray Attrill, co-head of NAB global (The Sydney Morning Herald)
Pair's Outlook
[ANNOUNCE]Due to rising oil prices the Aussie received a boost on Thursday, adding 45 pips against the American Dollar.[/ANNOUNCE] As a result, the immediate resistance area was pierced, allowing the pair to stabilise above the 0.72 major level. However, another positive outcome is doubtful, as technical indicators are giving bearish signals in all timeframes. Consequently, the commodity currency could erase some of yesterday's gains, thus, falling back under the 0.72 mark. On the other hand, in case demand, represented by the weekly PP and the monthly S1, turns out to be sufficient—the AUD/USD pair is unlikely to reach the nearest resistance, namely the weekly R1 at 0.7275.
Traders' Sentiment
For the third consecutive day 57% of traders hold short positions. At the same time, 78% of all pending orders are to sell the Aussie.