"Commodity currencies remained wobbly as oil prices extended falls after tumbling on Thursday, when OPEC and allied producers extended output cuts but disappointed investors betting on longer and larger supply curbs."
— Masayuki Kitano (based on Reuters)
Pair's outlook
The Aussie continues to depreciate against the US Dollar for the third consecutive day. Downside risks are pushing the currency towards the nearest support formed by the 20-day SMA and the upper channel boundary at 0.7431 and 0.7423, respectively. The base scenario favours the rate breaching the above-mentioned SMA in order to test the latter in the nearest time. Meanwhile, in the unlikely event that the Aussie turns to the upside, the weekly PP at 0.7463 should still be considered unreachable, as the 55- and 200-hour SMAs and the upper Bollinger band are restricting the pair at 0.7451/55.
Traders' sentiment
Market sentiment is almost neutral, as 51% of open positions are long. Furthermore, the same percentage of pending orders are to sell the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 2% | 4% | 10% | |
| Orders | -2% | 26% | 28% | |
| 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) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Neutral | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |