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- Western Union Business Solutions (based on Reuters)
Pair's Outlook
The AUD/USD currency pair continued to slide down yesterday, yet was unable to close below the 0.75 psychological level. Today's US NFP reading had no effect on the pair's performance, meaning that it failed to spark AUD-selling. On the contrary, the Australian Dollar managed to begin edging higher against the US counterpart, therefore, somewhat preserving the key support area. Meanwhile, the monthly S1 at 0.7558 is the closest resistance, which is likely to prevent the Aussie from surging further. Technical indicators, however, are now giving bearish signals, unable to confirm the possibility of the positive outcome.
Traders' Sentiment
Bears grew stronger over the day, as now 74% of all open positions are long, compared to 72% on Thursday. The number of sell orders also increased, namely from 55 to 63%.
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