"The Australian Dollar was steady against its US cousin on Tuesday after a slightly better-than-expected set of data from the construction sector."
— David Cottle (based on Daily FX)
Pair's outlook
Not being able to overcome the 20-day SMA at 0.7427 for the third consecutive day, the Aussie started the morning session with slight appreciation against the US dollar. The pair keeps trading in the 0.7463/7427 area, demonstrating that traders are rather cautious. It is expected that the rate does not cross the boundaries of the above range in this session. Moreover, taking into account the lack of market drivers, it is likely that the weekly PP at 0.7463 is not reached today, setting 0.7455 as a more probable upper limit. Nevertheless, positive US fundamentals may strengthen the Greenback, putting the 20-day SMA to the test once again.
Traders' sentiment
51% of open positions are long today. In addition, 67% of set up orders are to buy 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 | → | ↘ | → | |