"Overall, we see the dollar trading in its recent ranges for the time being, with investors focused on next month's FOMC meetins."
— Daiwa Securities (based on The Business Times)
Pair's Outlook
Although the Aussie was unable to post solid gains against the US counterpart on Friday, Monday began with a relatively strong surge. The 0.74 mark has once again been overcome, with the given pair aiming towards reaching the descending channel's resistance. There are two main obstacles on the way: first, the monthly S1 at 0.7407, second, the weekly R1 at 0.7432. Assuming both these levels are pierced, the exchange rate is still expected to bounce back from the channel's upper border, due to the 20-day SMA and the weekly R2 reinforcing it. However, such a development is unlikely to occur over one day.
Traders' Sentiment
Traders are neutral towards the AUD/USD, as 52% of all open positions are long. Meanwhile, the share of buy orders surged from 38 to 58%.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 4% | 18% | 24% | |
| Orders | 16% | -24% | 30% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Sell | Neutral | Neutral | |
| CCI (14) | Neutral | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Neutral | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |