"A break above 7500 however is a short term buy signal despite overbought conditions and sees 7490/85 act as support targeting 7535/45 and perhaps as far as 7580/90."
— Jason Sen (based on Investing.com)
Pair's outlook
The Aussie continues to trade higher against the Greenback, demonstrating that the channel down in force since mid-March is no longer valid. Meanwhile, the rate has respected the boundaries of a channel up on the hourly chart, testing its upper boundary at 0.7507. It should be expected that the pair bounces back from the given resistance and trades lower. Nevertheless, the Aussie is expected to remain above the weekly R1 today but not exceed the weekly R2 at 0.7491. In the very unlikely event that the Aussie changes its direction, losses should not exceed the upper channel boundary at 0.7451.
Traders' sentiment
Traders have diminished their bullish sentiment, as 55% of open positions are long. Furthermore, 65% of pending orders are to buy the pair.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 10% | 16% | 24% | |
| Orders | 34% | 30% | 22% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Buy | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Sell | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Neutral | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |